EIDP Retiree Loses Appeal Over Pension Cuts Benefiting Ex-Wife

EIDP Inc. and Corteva Inc. defeated a Fourth Circuit appeal by a retiree who said his monthly pension check was improperly reduced to fund an annuity payable to his ex-wife upon his death.

The retiree’s divorce agreement allows—but doesn’t require—his ex-wife’s post-death benefits to be funded by reductions from the payments she receives during his lifetime, the US Court of Appeals for the Fourth Circuit said Monday. This permissive language means the company didn’t err by instead funding her post-death benefit with reductions from the retiree’s monthly checks, the appeals court said.

• David Gasper divorced his wife of 25 years ...