Legal Opinion
McCarter v. Retirement Plan for the District Managers of the American Family Insurance Group
Court of Appeals for the Seventh Circuit
Decided September 2, 2008No. 07-4023PublishedCited by 37 opinions
1Opinion of the Court
EASTERBROOK, Chief Judge.
American Family Insurance Group amended its pension plans in 1997 to allow participants to elect cash distributions (with values actuarially equal to the participants’ vested pensions) when they leave its employ. As amended, the plans give workers 90 days to choose whether to take lump sums immediately or annuities when they reach retirement age. Plaintiffs exercised the lump-sum option. Now they regret their decisions and say that the plans should have let them defer the choice until normal retirement age. Allowing only 90 days makes people too likely to accept cash,…
2Cases cited18 opinions
- Lujan v. Defenders of WildlifeSupreme Court of the United States · 1992
- Bell v. HoodSupreme Court of the United States · 1946
- Bowles v. RussellSupreme Court of the United States · 2007
- Swint v. Chambers County CommissionSupreme Court of the United States · 1995
- White v. New Hampshire Department of Employment SecuritySupreme Court of the United States · 1982
13 more not listed; retrieve them via the Exa API.
3Cited by37 opinions
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- Kendall v. Employees Retirement Plan of Avon ProductsCourt of Appeals for the Second Circuit · 2009
- Holocaust Victims of v. Magyar Nemzeti BankCourt of Appeals for the Seventh Circuit · 2012
- Edward Raybourne v. CIGNA Life InsuCourt of Appeals for the Seventh Circuit · 2012
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