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Scotus Orders 5th Circuit to Reconsider Verizon Pension Risk Transfer

The Supreme Court ordered the lower court to reassess whether fiduciaries of Verizons pension plan violated their duty to participants.

By Nick Thornton, BenefitsPro | Updated on May 27, 2016

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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