A U.S. District Court has sided with a pension plan sponsor seeking the return of a $725,000 overpayment made to a participant who elected to receive a lump sum payout.
In the lawsuit filed against Kaiser Health Foundation Health Plan and Kaiser Permanente Retirement Plan, the U.S. District Court for Northern New York, based in Syracuse, ruled the plan sponsor was within its rights to not credit 20 years of service time accrued by John Baackes before Community Health Plan merged with Kaiser Permanente.
Baackes was president of the northeast division of Kaiser Permanente for about two years before leaving the company in 1998. In 2011, he retired and after reaching age 65 he requested his lump sum payment.
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