Roanoke Times Copyright (c) 1995, Landmark Communications, Inc. DATE: TUESDAY, October 25, 1994 TAG: 9412220056 SECTION: BUSINESS PAGE: C7 EDITION: METRO SOURCE: MAG POFF STAFF WRITER DATELINE: LENGTH: Short
The plaintiff, Thomas F. Conn, formerly of Roanoke and now of Wilkesboro, N.C., formerly was a senior vice president of Dominion Bankshares Corp. in charge of consumer credit. His lawsuit says he still works for First Union Corp., which acquired Dominion in 1993.
In his suit filed in the U.S. District Court at Roanoke, Conn said that Dominion instituted an "executive life insurance program" effective Jan. 1, 1987, and he elected to participate.
Effective at the start of 1994, Conn said, First Union canceled the program for employees younger than 55, but continued the plan for those 55 and older.
"The continuation of the program constitutes a substantial economic benefit to those eligible, and cancellation of the program for those declared ineligible constitutes a substantial economic loss," Conn said.
Conn is 53, he said, so he didn't qualify for continuation in the program but, because he is over 40, he is covered by the Age Discrimination in Employment Act. Cancellation for employees between 40 and 55 constitutes willful discrimination under the act, Conn said.
He is seeking damages of $126,935. That includes $113,382 in loss of cash value of insurance plus cost of replacement insurance, along with $13,553 for projected income if he had been allowed to stay in the program.
First Union spokesman David Scanzoni said Monday that the bank had not yet been served with the suit.
by CNB