Pension and retirement plans are subject to a complex federal statute known as ERISA. Some large corporations use sophisticated accounting and actuarial techniques to evade the requirements of ERISA and to reduce the benefits paid by their pension plans. Retirement plans may employ various valuation methodologies which violate ERISA, including: (a) freezing the value of benefit units, so as to deny participants the right to the full value of their shares; (b) using an unlawful method to calculate lump sum plan payments; and (c) using pension benefits to offset the cost of non-pension benefits, such as survivorship benefits.
Gilman and Pastor, LLP is committed to protecting the rights of pension plan participants to receive the full benefits to which they are entitled. If you believe that your employer is unfairly calculating plan benefits, please contact us.
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