Laskin v. Siegel

Laskin worked for Jefco from 1966-1974 and participated in the company pension plan, accumulating a fully vested retirement account balance of $5,976.09. Soon after she left the company Laskin contacted Siegel, a trustee of the pension plan, and asked whether she could withdraw the funds to buy real estate. Siegel sent Laskin a letter explaining that her account would accrue interest at the passbook rate and that the plan had been amended in 1975, raising the retirement eligibility age from 55 to 65. Over the next 10 years, Laskin received statements, indicating that she was receiving from 5% to 5.5% interest on her balance. In 1988, a statement indicated that her balance was $12,602.86. The pension plan dissolved on December 31, 1991. In 2008, Laskin contacted Siegel’s son (who had purchased his father’s interest in Jefco) and was told that pension funds had been completely disbursed and that she did not receive a payout because she could not be located. The district court dismissed her claims as barred by the limitations period in the Employee Retirement Income Security Act, 29 U.S.C. 1113. The Seventh Circuit affirmed. View "Laskin v. Siegel" on Justia Law