Ex-JPMorgan Worker Partially Revives Pension Statement Lawsuit

A former JPMorgan Chase & Co. employee on Tuesday convinced the Second Circuit to revive portions of his proposed class action challenging how the bank communicated with workers about their pension benefits.

The bank’s pension administrator sufficiently disclosed how the plan worked, how benefits would be calculated, and how employees might be negatively affected by the transition from a traditional pension plan to a cash balance plan, the US Court of Appeals for the Second Circuit said. But the worker can pursue claims that the defendants violated a federal law requiring them to provide annual benefit statements that properly ...