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Jensen v. Solvay Chemicals, Inc.

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Before HARTZ, HOLLOWAY, and GORSUCH, Circuit Judges.

Wade E. Jensen and Donald D. Goff (Plaintiffs) represent themselves and a class of current and former employees of subsidiaries of Solvay America, Inc. who are at least 40 years old, participated in the Solvay America Companies’ Pension Plan before January 1, 2005 (the old plan), and since that date have been subject to the plan’s Retirement Account Balance Formula (the new plan), a type of formula known as a cash-balance formula.*fn1 Plaintiffs sued Solvay (the plan sponsor and administrator) in the United States District Court for the District of Wyoming, claiming that Solvay’s conversion to the cash-balance formula violated the Employee Retirement Income Security Act of 1974 (ERISA), Pub. L. No. 93-406, 88 Stat. 829 (codified in 29 U.S.C. §§ 1001–1461, and in various sections of Title 26) and the Age Discrimination in Employment Act of 1967 (ADEA), 29 U.S.C. §§ 621–634. Under ERISA they sought the benefits to which they would have been entitled if the old plan had continued. See 29 U.S.C. § 1054(h)(6)(A). Under the ADEA they sought double damages. See id. §§ 216(b), 626(b).

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