Interesting article from Workforce Insights entitled “In the Balance: The Future of Pension Rights.” The article discusses the future of the cash balance plan and suggests that the cash balance plan controversy may be headed for the U.S. Supreme Court:
IBM’s cause – which has become the cause of pension sponsors generally – may not end at the Circuit Court in Chicago. The issue seems likely to wind up in the Supreme Court, especially if the split that has already shown up at the District Court level also occurs among the Circuit Courts of Appeals. There also could be legislation.The Treasury has urged Congress to act. It told the lawmakers last February that the split among federal judges “has created uncertainty about the basic legality of these plans. Removing that uncertainty is critical to preserving the vitality of the defined benefit system, which provides retirement income security for millions of American workers and their families.”
Lyle Denniston is a veteran Supreme Court reporter, having covered the highest court for 46 years. He thus has covered one out of every four Justices ever to sit on the Court. Denniston is now reporting on the Court for SCOTUSblog, a Web site devoted to news and information about the Court, and for the NPR Boston affiliate, WBUR.