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Offer clause voided

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  • Offer clause voided

    Hi, my offer letter had a special clause about my future pension but they took it back after several years, saying the pension plan rule is absolute, no exceptions. It looks as though the plan rule was amended sometime between then and now (I stumbled on this by pure luck) to reduce pension for rare cases including mine. The special clause was specifically added to protect me from just such a change in pension plan rule, because at that time the rule was favorable to me. Presumably there is a fine print in the plan rule somewhere that says we reserve the right to amend etc. etc... Now I don't have the slightest idea what I will be getting when I retire (they refuses to tell me - but that's another story.)

    I had to take some financial loss to accept this offer, and if the special clause weren't there I would have asked to increase the offered salary, or maybe passed up on the offer. Not sure if it is relevant or if I should tell them for consideration (suspect they couldn't care less)...

    Is this something that could/should be discussed in a court of law or with a lawyer? Can this be called a "breach of trust"(?) or something, or are they free to do as they please as long as there is some legal fine print? I am in NY.

  • #2
    If you have a "defined benefit" pension plan, check with the Pension Benefit Guaranty Corporation, www.pbgc.gov.

    If you have a "defined contribution" pension plan, check with the U.S. Dept. of Labor, http://www.dol.gov/ebsa/.
    In Solidarity,

    Wayne

    www.waynemarshall.org

    Comment


    • #3
      Thank you for the links. So - an offer letter is legally irrelevant and ERISA is the only law that might help here?

      Comment


      • #4
        Originally posted by andyy
        Thank you for the links. So - an offer letter is legally irrelevant and ERISA is the only law that might help here?
        If you believe the offer letter is a legally binding contract, you must go to court to enforce it.
        In Solidarity,

        Wayne

        www.waynemarshall.org

        Comment

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