FLAUM, Circuit Judge.
Jeffory Schane, now retired, receives a monthly pension from his union pension plan. The plan's board of trustees has determined that, based on its interpretation of the pension plan, Schane is entitled to $2,600 per month. Schane reads the plan differently, and believes he should receive $2,900. We are asked to decide whether the trustees' interpretation of the plan is arbitrary or capricious.
I. Background
In February 2008...
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