A class action lawsuit has been filed in the Northern District Court of Ohio against RR Donnelly (formerly Moore-Wallace North America, Inc.) for violations of the Employment Retirement Income Security Act (ERISA). ERISA is a federal law that sets minimum standards for most voluntarily established pension and health plans in private industry to provide protection for individuals in these plans.
Class members seek a determination that the Pension Plan was discontinued on or about December 31st, 2000 and terminated on June 4th, 2001 and that the members of the class are entitled to the surplus assets remaining in the pension fund after the satisfaction of all defined benefit Plan liabilities.
Specifically, the complaint alleges that the Company’s Pension Plan was amended in 1997 to allow only grandfathered participants to elect to continue accruing defined benefits and permanently discontinued the plan in 2000. The Company informed participants that any surplus would revert back to itself.
The proposed class includes only those current or former employees (retirees) of Moore who participated in, contributed their own money to and did not withdraw their employee contributions from the Pension Plan, as well as designated beneficiaries or heirs of those current or former qualified employees.
The proposed class is defined as:
All persons who are participants, and/or former participants of the Pension Plan who made employee contributions thereto, and who did not elect to withdrawal these contributions from the Plan, and who were entitled to Plan benefits, whether deferred or in pay status on December 31st, 2000, or the designated beneficiaries, surviving spouses, heirs and assigns of any such deceased participants and former participants who were entitled to Plan benefits on or after the same date.