Scott v. Administrative Committee of the Allstate Agents Pension Plan

ANDERSON, Circuit Judge:

This appeal arises from actions taken by defendants 1 to retroactively amend the Allstate Agents Pension Plan (“Plan”) 2 in order to comply with the Tax Reform Act of 1986 (TRA ’86 or the Act). Plaintiffs brought suit under the Employee Retirement Income Security Act of 1974, as amended (ERISA), claiming that because defendants failed to follow interim Internal Revenue Service (IRS) regulations, the amendments to the Plan were ineffective and therefore could not retroactively reduce benefits accrued after January 1, 1989. After a bench trial, the district court held…