SEATTLE, July 8, 2005 (PRIMEZONE) -- Keller Rohrback L.L.P. today announced that it is investigating Citigroup, Inc. ("Citigroup" or the "Company") (NYSE:C) for violations of the Employee Retirement Income Security Act of 1974 ("ERISA"). The investigation is regarding the Company's cash balance plan conversion of the Citigroup Pension Plan (the "Plan").
Keller Rohrback's investigation focuses on the January 1, 2000 and January 1, 2002 Plan amendments. The January 1, 2000 Plan Amendment created a new benefit formula -- a cash balance formula -- for the calculation of benefits accrued under the Plan, and the January 1, 2002 Plan Amendment revised that cash balance formula. Both of these Amendments may violate age-based accrual rules for defined benefit plans as set forth in ERISA.
If you are a member of the Citigroup Pension Plan, you may contact any member of our team (paralegal Jennifer Tuato'o or attorneys Erin Riley, Derek Loeser or Lynn Sarko) toll free at 800/776-6044, or via e-mail at investor@kellerrohrback.com. In addition, Keller Rohrback is investigating cash balance plan conversions at other companies that may have violated ERISA. If you have information regarding such other violations, you may contact us as well regarding this matter.
Keller Rohrback is one of America's leading law firms handling ERISA retirement plan litigation. We have successfully provided class action representation for over a decade. Keller Rohrback's trial lawyers have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.