A purported class action lawsuit has been filed against the athletic shoes and clothing retailer claiming its pension plan violates the federal Employee Retirement Income Security Act, or ERISA. The lawsuit was filed in the U.S. District Court in New York and claims that as a result of the company's conversion of its defined benefit pension plan to a defined pension plan with a cash balance feature, the new plan violates ERISA, including the law's provisions against age discrimination.
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