884
Opinion of the Court
Richard P. Bress argued the cause for the United States as amicus curiae urging reversal. With him on the brief were Solicitor General Days, Assistant Attorney General Argrett, Edwin S. Kneedler, Kenneth L. Greene, J. Davitt McAteer, Allen H. Feldman, and Edward D. Sieger.
Theresa M. Traber argued the cause for respondent. With her on the brief was Bert Voorhees.*
Justice Thomas delivered the opinion of the Court.
In this case, we decide whether the payment of benefits pursuant to an early retirement program conditioned on the participants' release of employment-related claims constitutes a prohibited transaction under the Employee Retirement Income Security Act of 1974 (ERISA), 88 Stat. 829, as amended, 29 U. S. C. § 1001 et seq. We also determine whether the 1986 amendments to ERISA and the Age Discrimination in Employment Act of 1967 (ADEA), 81 Stat. 602, as amended, 29 U. S. C. § 621 et seq., forbidding age-based discrimination in pension plans apply retroactively.
I
Respondent Paul Spink was employed by petitioner Lockheed Corporation from 1939 until 1950, when he left to work
*Briefs of amici curiae urging reversal were filed for the ERISA Industry Committee by Michael E. Horne and John M. Vine; for the Equal Employment Advisory Council by Douglas S. McDowell and Ellen Duffy McKay; and for the New England Legal Foundation by William J. Kilberg, Peter H. Turza, Paul Blankenstein, Mark Snyderman, and Stephen S. Ostrach.
Briefs of amici curiae urging affirmance were filed for the American
Association of Retired Persons by Cathy Ventrell-Monsees and Mary Ellen Signorille; for the Engineers and Scientists Guild, Lockheed Section, by Stuart Libicki; and for the National Employment Lawyers Association by Stephen R. Bruce, Ronald Dean, and Jeffrey Lewis.
Briefs of amici curiae were filed for the American Academy of Actuaries et al. by Lauren M. Bloom; and for the Chamber of Commerce of the United States by Hollis T. Hurd, Stephen A. Bokat, and Robin S. Conrad.
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