A 38-year veteran of E.W. Burman Inc. won his lawsuit accusing the New England commercial building contractor of shortchanging his retirement benefits by more than $170,000 by choosing the wrong valuation date.
The employee qualified as a “terminated participant” rather than a retiree under the company’s retirement plan, which meant his account valuation should have occurred in December 2023, Judge Melissa R. DuBose of the US District Court for the District of Rhode Island said Monday. Burman’s distribution of about $1.4 million in retirement benefits to Carl Angus two weeks before he left the company in July 2023 contradicts plan ...