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I retired from on a Defined Contribution Plan that was changed shortly after I retired to a retroactive Defined Benefit Plan?

Orlando, FL |

I retired from a company on 08/01/2010 under a Defined Contribution Plan. The company modified the plan to include a Defined Benefit on 05/01/2011. The plan included a retroactive component to go back and calculate and pay the benefit for every past year of employment based on a formula. There are only 5 of us who retired on the DC plan prior to 05/01/2011 and we are being excluded from the retroactive benefit. I understand that since I am a retired employee, I would not get the benefit going forward; however, it seems wrong to exclude me from the retroactive benefit?

Attorney Answers 1


My guess is that this is a small company and the participation is carved out to cover only the highly-compensated employees. They have to hire an actuary to install a DB plan and he planned it, probably very carefully to exclude the 5 persons not in pay status. So I am not optimistic for you.
If you want to pursue it, you can file a complaint with the US Employee Benefits Administration. To learn how to file a complaint go to the below website. Its 4th paragraph covers that.

DISCLAIMER—This answer is for informational purposes only under the AVVO system, its terms and conditions. It is not intended as specific legal advice regarding your question. The answer could be different if all the facts were known. This answer does not establish an attorney client relationship. I am admitted only in California. (Bryant) Keith Martin

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Thank you for the quick return! The company has just over 1,000 employees. About 2/3 were already covered under a defined benefit plan. Employees hired after 1998 were on the defined contribution plan and are now on the modified plan.

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