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CLAIR v. HARRIS TRUST AND SAV. BANK

No. 98-2334.

190 F.3d 495 (1999)

William L. CLAIR and John D. O'Malley, for themselves and for all others similarly situated, Plaintiffs-Appellants, v. HARRIS TRUST AND SAVINGS BANK, et al., Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided August 10, 1999.

Attorney(s) appearing for the Case

Clinton A. Krislov (argued), Krislov & Associates, Chicago, IL, for Plaintiffs-Appellants.

Nancy G. Ross (argued), McDermott, Will & Emery, Chicago, IL, for Defendants-Appellees.

Before POSNER, Chief Judge, and KANNE and EVANS, Circuit Judges.

POSNER, Chief Judge.

This is a class action suit under ERISA complaining about delay in the payment of benefits to which the members of the class were entitled by their employer's retirement plan. The defendant bank has a defined-contribution retirement plan. The contributions that the employer and the employee make are deposited in an individual account of the employee and he decides how to invest it. When he retires he receives the current market value of the investments...

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