Feds Must Face Constitutional Suit Over Teamsters Pension Cuts

[cheryl]

Feds Must Face Constitutional Suit Over Teamsters Pension Cuts - Bloomberg Law​

United Parcel Service Inc. retirees who sued the federal government over a 2014 pension law that authorized 29% cuts to their benefits advanced their lawsuit alleging an unconstitutional governmental taking of property, according to a U.S. Court of Federal Claims ruling.

The retirees have a valid property interest in their right to receive unreduced payments of their vested pension benefits under the terms of their plan, Judge Richard A. Hertling said in an April 8 opinion.

He denied the government’s request for summary judgment on the retirees’ claim under the Fifth Amendment’s takings clause.

He said the retirees’ property interest under the plan wasn’t significantly diminished based on the plan’s subjection to the “robust regulatory framework” of the Employee Retirement Income Security Act and the Internal Revenue Code.

 

[DELACROIX]

In layman’s language the retirees that had their pension benefits cut have the right to recover past shortages. ERISA had previous amendments that stated that (no retiree) should have (promised) monetary benefits in any pension plan cut while they were retired. Not sure if that pension reform act in 2014
applies?

Apparently Not..