Duke Energy Pension Lawsuit

Wallace & Graham represents retirees who have sued Duke Energy in federal court to remedy Duke’s alleged cutting of retirement pension benefits. The lawsuit alleges that Duke improperly cut pensions by replacing its existing plan with a cash balance retirement pension plan. Workers allege that Duke violated federal law both by its conversion to a cash balance plan and its failure to follow that plan’s terms, leading to lower benefits. The lawsuit was filed in federal court in South Carolina. The case is ongoing.

Many Duke Energy employees are plan participants in the Duke Energy pension plan. Employees claim that the current Duke Energy pension plan, which is known as a “cash balance plan,” improperly reduces pension and retirement benefits, in violation of federal law. A copy of the complaint that has been filed can be viewed here.

More recently, Duke Energy has filed a motion to dismiss the case. We will continue to update you on the progress of this case.

We are pleased to represent Duke Energy retirees and their families in this case. For more information feel free to call us at 1-800-849-5291 or use this convenient form.