Legal Opinion
Cooper, Kathi v. IBM Personal Pension
Court of Appeals for the Seventh Circuit
Decided August 7, 2006No. 05-3588PublishedCited by 35 opinions
1Opinion of the Court
EASTERBROOK, Circuit Judge.
The IBM Personal Pension Plan is a cash-balance defined-benefit plan. It is almost, but not quite, a defined-contribution plan. Although each employee in a defined-contribution plan has a fully funded individual account, the personal account in a cash-balance plan is not separately funded. Instead IBM imputes value to the account in the form of “credits”: there are pay credits (set at 5% of the employee’s gross taxable income) and interest credits (set at 100 basis points above the rate of interest on one-year Treasury bills). A trust holds assets that may (or may…
2Cases cited9 opinions
- Hazen Paper Co. v. BigginsSupreme Court of the United States · 1993
- LOCKHEED CORP. Et Al. v. SPINKSupreme Court of the United States · 1996
- Arizona Governing Committee for Tax Deferred Annuity & Deferred Compensation Plans v. NorrisSupreme Court of the United States · 1983
- David Berger and Gerry Tsupros, on Behalf of Themselves and Others Similarly Situated v. Xerox Corporation Retirement Income Guarantee PlanCourt of Appeals for the Seventh Circuit · 2003
- James J. SHEEHAN, Plaintiff-Appellant, v. DAILY RACING FORM, INCORPORATED, Defendant-AppelleeCourt of Appeals for the Seventh Circuit · 1997
4 more not listed; retrieve them via the Exa API.
3Cited by35 opinions
- Federal Insurance v. International Business MacHines Corp.New York Court of Appeals · 2012
- Rosenblatt v. United Way of Greater HoustonCourt of Appeals for the Fifth Circuit · 2010
- Hirt v. Equitable Retirement Plan for Employees, Managers & AgentsCourt of Appeals for the Second Circuit · 2008
- Amara v. Cigna Corp.District Court, D. Connecticut · 2008
- Hurlic v. Southern California Gas Co.Court of Appeals for the Ninth Circuit · 2008
30 more not listed; retrieve them via the Exa API.