The Reduction of Retirement Benefits and the Rise of Class...
It is no secret – many employers are looking for ways to keep up with the mounting expense of post-retirement benefits. As a result, some employers may attempt to unilaterally amend or terminate benefits to their retirees, relying on “reservation of rights clauses” commonly found in employment contracts (e.g. the employer reserves the right to amend, modify, suspend or terminate any of the benefit programs at any time).