Lyons v. Georgia-Pacific Corp. Salaried Employees Retirement Plan
Court of Appeals for the Eleventh Circuit
1Opinion of the Court
CARNES, Circuit Judge:
This is an Employee Retirement Income Security Act (“ERISA”), 29 U.S.C. § 1001, et. seq., case in which we are called upon to decide issues about how to calculate a consensual, lump sum payout in a front-loaded, defined benefit, cash balance pension plan with fixed interest credits. The principal issue is whether such a payout must be calculated using the present value methodology set out in Treasury Regulations 1.411(a)-ll and 1.417(e)-!, 1 the former of which the district court held to be invalid. See Lyons v. Georgia-Pacific Corp. Salaried Employees Retirement Plan,…
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