The View from Proskauer on Developments in the World of Employee Benefits, Executive Compensation & ERISA Litigation
One de-risking tool for employers with defined benefit pension liabilities is to allow participants to receive lump-sum distributions. Although lump sums result in a short-term cash drain, they reduce the plan’s long-term liability—reducing the sponsor’s exposure to contribution volatility.
Over the last several years, there has been a question whether lump-sum cashouts may be offered…
A federal district court in Michigan dismissed retirees’ claims for lifetime, unalterable healthcare benefits from BorgWarner. BorgWarner provided healthcare benefits to Plaintiffs through a series of collective bargaining agreements and health insurance agreements. After BorgWarner unilaterally modified the available retiree healthcare benefits, Plaintiffs filed suit. Applying the principles set forth in M&G Polymers USA, LLC…
Proskauer and our platform provider LexBlog each use cookies to personalize content and ads, to provide social media features and to analyze traffic. Each of us also share information about your use of our site with our social media, advertising and analytics partners. If you are happy for us to store these cookies on your device please click ‘Accept Cookies.' For more information, please see here and here.
