CIGNA Corp. v. Amara
Supreme Court of the United States
1Opinion of the CourtJustice Breyer
In 1998, petitioner CIGNA Corporation changed the nature of its basic pension plan for employees. Previously, the plan provided a retiring employee with a defined benefit in the form of an annuity calculated on the basis of his preretirement salary and length of service. The new plan provided most retiring employees with a (lump sum) cash balance calculated on the basis of a defined annual contribution from CIGNA as increased by compound interest. Because many employees had already earned at least some old-plan benefits, the new plan translated already-earned benefits into an opening amount…
2Cases cited16 opinions
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- Princess Lida of Thurn and Taxis v. ThompsonSupreme Court of the United States · 1939
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