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DUNCAN v. MUZYN

No. 17-5389.

885 F.3d 422 (2018)

Jerry DUNCAN, et al., Plaintiffs, Charles T. Evans; David McBride; Ronald E. Farley; Larry J. Simpson; Robert B. Bonds; Steve Hinch, Plaintiffs-Appellants, v. Leonard J. MUZYN, et al., Defendants, Tennessee Valley Authority Retirement System; Tennessee Valley Authority, Defendants-Appellees.

United States Court of Appeals, Sixth Circuit.

Decided and Filed: March 16, 2018.

Attorney(s) appearing for the Case

ARGUED: Michael J. Wall , BRANSTETTER, STRANCH & JENNINGS, PLLC, Nashville, Tennessee, for Appellants. Edmund S. Sauer , BRADLEY ARANT BOULT CUMMINGS LLP, Nashville, Tennessee, for Appellee Tennessee Valley Authority Retirement System. Edward C. Meade , TENNESSEE VALLEY AUTHORITY, Knoxville, Tennessee, for Appellee Tennessee Valley Authority. ON BRIEF: Michael J. Wall , James G. Stranch, III , R. Jan Jennings , Michael G. Stewart , BRANSTETTER, STRANCH & JENNINGS, PLLC, Nashville, Tennessee, for Appellants. Edmund S. Sauer , BRADLEY ARANT BOULT CUMMINGS LLP, Nashville, Tennessee, James S. Christie, Jr. , BRADLEY ARANT BOULT CUMMINGS LLP, Birmingham, Alabama, for Appellee Tennessee Valley Authority Retirement System. Edward C. Meade , James S. Chase , Frances Regina Koho , TENNESSEE VALLEY AUTHORITY, Knoxville, Tennessee, for Appellee Tennessee Valley Authority.

THAPAR, J., delivered the opinion of the court in which LARSEN, J., joined. MOORE, J. (pp. 429-36), delivered a separate dissenting opinion.

OPINION

Underfunded public pensions are a vexing public-policy issue. See generally Jack M. Beermann, The Public Pension Crisis, 70 Wash. & Lee L. Rev. 3 (2013). One answer is to cut benefits, see id. at 31, 86, but unsurprisingly, that often proves controversial. So it was here. Jerry Duncan...

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