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MATHEWS v. SEARS PENSION PLAN

No. 97-2938.

144 F.3d 461 (1998)

Edward H. MATHEWS, individually and on behalf of all others similarly situated, Plaintiff-Appellant, v. SEARS PENSION PLAN and Sears, Roebuck & Company, Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided May 13, 1998.

Rehearing and Suggestion for Rehearing Denied June 26, 1998.

Attorney(s) appearing for the Case

Paul E. Slater (argued), Sperling, Slater & Spitz, Chicago, IL, for Plaintiff-Appellant.

William A. Gordon (argued), Mayer, Brown & Platt, Chicago, IL, for Defendants-Appellees.

Before POSNER, Chief Judge, and WOOD, Jr., and DIANE P. WOOD, Circuit Judges.

Rehearing and Suggestion for Rehearing En Banc Denied June 26, 1998.*

POSNER, Chief Judge.

This is a class action under ERISA against Sears Roebuck's pension plan. It is brought on behalf of those employees of Sears who upon retiring received (between 1987 and 1994) a lump sum payout in lieu of an annuity. The determination of the lump sum required discounting to present value the future payments that the retiree would have received...

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