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Finkl team wins ERISA anti-cutback case in 7th Circuit

McGuireWoods represented the pension plan of A. Finkl & Sons Company in the U.S. Court of Appeals for the 7th Circuit in a lawsuit claiming that the pension plan had violated ERISA's anti-cutback rule and the terms of the pension plan. The plaintiffs claimed that Finkl had an obligation to terminate the pension plan and provide annuities to the plaintiffs while the plaintiffs were still working for the company. The Court of Appeals, affirming the U.S. District Court for the Northern District of Illinois, found that Finkl had no obligation to terminate the pension plan and that the plaintiffs' ERISA rights were not violated.