Eliminating Retroactively Granted Pension Benefits Violates Anti-cutback Rule: First Circuit | Practical Law
In Bonneau v. Plumbers and Pipefitters Local Union 51 Pension Trust Fund, the US Court of Appeals for the First Circuit held, in a case of first impression, that the trustees of a pension plan violated the anti-cutback rule when they tried to eliminate a retroactively-conferred benefit. The First Circuit held that the benefit was attributable to service and had accrued for purposes of the anti-cutback rule.