The Supreme Court has ordered the 5th Circuit Court of Appeals to reconsider whether fiduciaries of Verizon’s defined benefit pension plan violated their duty to participants in transferring $7.5 billion in plan assets in 2012.
In August of 2015, the 5th Circuit upheld a lower court decision in favor of Verizon, in Lee v. Verizon.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
