5th Circuit confirms Verizon de-risking did not violate ERISA [telecom]
5th Circuit confirms Verizon de-risking did not violate ERISA
by Nick Thornton
The 5th Circuit Court of Appeals has upheld a lower court that ruled for Verizon Communications Inc. in a case that called into question the legality of pension annuity buyouts.
The case, Lee v. Verizon, stems from a 2012 pension buyout, which moved $7.5 billion in pension liabilities, or about a quarter of all the communication giant?s obligations, to Prudential Insurance Co.
Posted 5 years ago by Bill Horne in General Telecommunications Forum
![Image for 5th Circuit confirms Verizon de-risking did not violate ERISA [telecom]](/media/26824/60398d08554335.89652809.webp)