Media Mentions
2008
Nancy G. Ross was quoted in the May 5 issue of The National Law Journal in an article regarding so-called hidden fees in 401k retirement plans. Plaintiffs claim it is difficult for participants to compare costs among similar plans because they see management fees as lump sums that include costs of services from different providers. Ms. Ross, who is defending Northrop Grumman in two class actions, believes that it will be difficult for plaintiffs to prove a company's negligence over excessive 401k fees, even if the company could have paid plan administrators less. "It becomes a battle of experts. Just because one expert would have done it differently does not prove the plan administrators did it wrong. Negligence is very hard to prove in the ERISA world," Ms. Ross said.
Nancy G. Ross, Class Action, Employee Benefits Litigation, Trial
Nancy G. Ross was quoted on April 9 by the Associated Press in connection with the representation she has provided for Chrysler in negotiating a restructure of retiree health benefits with the UAW. A proposed deal would require Chrysler LLC to pay $10.3 billion to a trust that would cover the company's $18 billion in retiree health care obligations. An 11-member committee would run the trust and would include six members selected by the court and five selected by the UAW. Regarding the settlement terms, Ms. Ross said, "We do believe in the light of the uncertain environment that Chrysler is operating that this settlement is the best for all parties."
Nancy G. Ross, Employee Benefits Litigation, Labor & Employment, Trial
Nancy G. Ross was recognized in the February 2008 issue of Chicago Magazine as one of the Top 50 Women Attorneys in Illinois.
Nancy Ross was mentioned in the January 15 issue of Crain's Chicago Business for being named a Leading Lawyer in Employee Benefits Law by www.LeadingLawyers.com.
2007
Nancy Ross was quoted in a September 24 article published by PLANADVISER Magazine regarding potential changes to the rules of disclosure of 401(k) administrative and investment fees. Advisers will need to be proactive about providing the transparency that plan sponsors and participants will require about fees. "It is important that they take action now, because we are in uncharted waters. [The spotlight] also opens up a terrific marketing opportunity for advisers: Those who are secure for the future will be those who make their fees the most transparent. There is no pulling the wool over the eyes of plan sponsors anymore - there is no avoiding this discussion," Ms. Ross said.
Nancy G. Ross, Employee Benefits Litigation, Labor & Employment
Nancy G. Ross was quoted in an August 27 article published by Business Insurance regarding a federal appeals court ruling that bars fiduciaries of federally regulated employee benefits plans from suing one another. Ms. Ross spoke on how this decision could complicate settlements of plan disputes. She predicted that "the 8th Circuit's ruling and others like it will have 'a deterrent effect on potential fiduciaries,' because fiduciaries now will have difficulties enforcing the indemnity provisions in trust agreements."
Nancy G. Ross, Employee Benefits Litigation, Labor & Employment
Nancy G. Ross was quoted in the February 5 issue of Business Insurance in an article regarding two recent appellate decisions in the Third and Seventh circuits finding that cash balance pension plans are not discriminatory towards older employees. Nancy commented on the effects of these decisions on other appellate courts and the difficulty that plaintiffs’ lawyers will face when trying to convince other courts that such plans are age discriminatory. "These appear to be airtight decisions, and those are the ones that will prevail at the end of the day," she said.
Nancy G. Ross, Employee Benefits - Insurance, Employee Benefits Litigation, Insurance, Trial
Nancy G. Ross was quoted in the February 5 issue of Business Insurance in an article on recent rulings by the 3rd and 7th Circuit Courts of Appeals that cash balance plans do not discriminate against older workers. Legal experts believe that other appeals courts will follow suit. Said Ms. Ross, "These appear to be airtight decisions, and those are the ones that will prevail at the end of the day."
Nancy G. Ross, Employee Benefits & Pensions, Employee Benefits - Insurance, Employee Benefits Litigation, Insurance
Nancy G. Ross was quoted in the January 22 issue of Business Insurance in an article regarding the U.S. Supreme Court's recent denial of review of a federal appeals court decision concerning the alleged discriminatory practice of cash balance pension plans. Ms. Ross commented that despite strong lobbying initiatives, Congress did not make the plans retroactive. "There was a strong lobbying effort to make the cash balance provisions retroactive and Congress didn't do it," she said.
Nancy G. Ross, Employee Benefits & Pensions, Employee Benefits Litigation, Trial
2006
Nancy Ross was quoted by Business Insurance on December 13 regarding cash balance pension plans discriminating against older employees. The split in the courts shows that it will be some time before the age discrimination issue will be resolved commented Ms. Ross.
Nancy G. Ross, Employee Benefits & Pensions, Employee Benefits Litigation, Trial
Nancy G. Ross was quoted in the November 6 issue of Business Insurance in an article regarding a recent federal court finding that cash balance pension plans discriminate against older workers. Mr. Ross commented that such discrimination issues are not likely to be settled in the near future. "We don't have closure. Two different judges can have two very different views," she said.
Nancy G. Ross, Employee Benefits & Pensions, Employee Benefits Litigation, Trial
Nancy Ross was quoted in the October 30 issue of Business Insurance regarding a 7th U.S. Circuit Court of Appeals decision ruling that IBM Corp.'s cash balance plan was age discriminatory. "We won't have certainty until the other appeals courts rule. We need to ride the wave longer to have greater comfort," commented Ms. Ross.
Nancy G. Ross, Employee Benefits & Pensions, Employee Benefits Litigation, Trial
Nancy Ross was quoted in the July 24 issue of Business Insurance in an article regarding a federal appellate court's ruling that a retired employee cannot challenge the elimination of retiree health benefits. Ms. Ross commented on the court's analysis in reaching its conclusion that the retiree had not pled enough facts to prove reliance on the alleged representations, noting in particular the surprising result by a court typically considered to be more protective of employees in benefits matters.
Nancy G. Ross, Employee Benefits & Pensions, Employee Benefits Litigation, Trial
Nancy Ross was quoted in the January 12 issue of New York Law Journal in an article pertaining to how Xerox Corporation violated ERISA by cutting back the benefits of 100 employees through establishing “phantom accounts.” Nancy Ross is quoted as saying, “Twenty years ago, when ERISA was very new, when plan participants claimed they were entitled to something that went beyond the terms of the plan because they had no notice or someone had told them something different, courts were by and large rejecting them out of hand,” Ms. Ross said. “Now, more and more courts are accepting these arguments.”
Nancy G. Ross, Employee Benefits Litigation, Trial
2002
Nancy Ross was quoted in the June 3 issue of Business Insurance in regard to the Equal Employment Opportunity Commission’s (EEOC) intent to propose a new regulation that would make altering, reducing or eliminating employer-sponsored health benefits when a retiree becomes eligible for Medicare not in violation of the federal age discrimination law. Ms. Ross expressed her satisfaction on the EEOC’s proposed regulation.
Nancy G. Ross, Employee Benefits & Pensions, Employee Benefits Litigation, Trial
Nancy Ross was quoted in the April 22 issue of Business Insurance in regard to the Circuit Court of Appeals decision, which ruled that the Age Discrimination in Employment Act also applies to retirees’ health benefit plans. Ms. Ross commented that this issue is "tremendously unresolved."
Nancy G. Ross, Employee Benefits & Pensions, Employee Benefits Litigation, Trial
Nancy Ross was quoted in the February 11 issue of Business Insurance in an article addressing a U.S. Supreme Court ruling that restricts health plans’ recovery rights against plan participants who obtain third-party damages to cover medical costs.
Nancy G. Ross, Employee Benefits Litigation, Health, Trial
Nancy Ross was quoted in the January 21 issue of Business Insurance in regard to recent court decision, which did not distinguish between different types of welfare benefits in relation to its ruling.
Nancy G. Ross, Employee Benefits & Pensions, Employee Benefits Litigation
2001
Nancy Ross was quoted in the July 16 issue of Business Insurance regarding a recent court decision that ruled discrimination against older retirees was not present when retirement incentive plans offer younger employees a much greater health insurance stipend than Medicare-eligible employees. Ms. Ross commented that the decision was straightforward and that equivalent stipends to various groups would be a "windfall" for older employees.
Nancy G. Ross, Employee Benefits & Pensions, Employee Benefits Litigation, Trial
Nancy Ross was quoted in the August 6 issue of Business Insurance in regard to the Equal Employment Opportunity Commission’s (EEOC) authority over the Age Discrimination in Employment Act (ADEA). The article addressed the introduction of H.R. 2558, which would clarify that employers would not be violating the ADEA if they reduced or eliminated health coverage for retired workers once they are eligible for Medicare.
Nancy G. Ross, Employee Benefits & Pensions, Employee Benefits Litigation, Trial
Nancy Ross was quoted in the April 30 issue of Business Insurance in regard to a U.S. district court ruling on retiree age bias.
