US Bancorp Dings Second Suit Over Early Retirement Pension Math – Bloomberg Law

US Bancorp fought back against allegations that it wrongly shortchanges certain early retirement pensions, telling a Minnesota federal court the case is an attempt to “sweep earlier issues under the rug” using a legal theory that’s been “flatly rejected.”

Neither the Employee Retirement Income Security Act nor any court ruling supports the retirees’ theory that early retirement pensions must be calculated using specific assumptions from the Internal Revenue Code, the bank said in a motion to dismiss filed Monday. Courts have rejected this contention in recent lawsuits against PepsiCo Inc. and Partners Healthcare System, according to the bank.

“Nothing …

Source: news.bloomberglaw.com