Legal

Hatch said he plans to reintroduce his Secure Annuities for Employee Retirement Act next year.

Lockheed is fighting claims its mismanagement of retirement benefit plans left workers with worse returns on company stock than investors who bought it on the open market.

Eight years after the lawsuit was filed, Lockheed will face off against the plaintiffs at a nonjury trial set to start today in federal court in East St. Louis, Illinois.

The case, which the Supreme Court is scheduled to hear and rule on by the beginning of next summer, hinges on the timeliness of claims relative to ERISAs statue of limitations.

The National Coordinating Committee for Multiemployer Plans says the amendment gives multiemployer pension plans the tools they need to head off insolvency and preserve retiree benefits for decades to come.

The sweep of the pension reforms adopted as part of the federal governments spending bill left a lot of interested parties surprised.