Huntington Ingalls Industries Inc. shortchanges the pensions of certain retirees by calculating their benefits using an outdated mortality table, according to a proposed class action. The military shipbuilder is at least the seventh large employer to be hit with these allegations in the past months. Similar cases are pending against American Airlines, PepsiCo Inc., MetLife, U.S. Bancorp, …
The Plan, a multiemployer pension plan subject to the Employee Retirement Income Security Act of 1974 (ERISA), dramatically reduced the class members’ Disability Retirement Benefits (DRB) by an average of more than 61 percent and threatened total elimination of their DRB. The 324 plaintiffs, most of whom reside in the Detroit area, filed suit in the U.S. District Court for the Eastern District …
About 10 months ago, Hall County Sheriff’s Office Capt. Brad Rounds said he reflected on the state of his fellow first responders seeking to retire. Though he never expected to be a cop, Rounds is reaching his 29th year with the department after joining at age 19.
The election of Donald Trump as president may change United States policy on refugees but is no reason for Tennessee legislators to stop pushing a lawsuit aimed at blocking resettlement in Tennessee, Senate Majority Leader Mark Norris said. Speaking to the Senate Republican Caucus last week, Norris said some have questioned whether the “Trump effect” makes the lawsuit unnecessary. “My response is full speed ahead,” said Norris, who earlier this year sponsored a resolution adopted by the Legislature that called on Attorney General Herbert Slatery to file a lawsuit against refugee resettlement in the state after President Obama announced plans to allow 10,000 Syrian war refugees into the county. Slatery declined to do so, saying such an effort would be “based upon untested, novel theories” of law. The Thomas Moore Law Firm, which regularly advocates in courts for conservative causes, has been named to act on Tennessee’s behalf in pursuing the lawsuit at no cost to the state. Norris and other Republican legislators pushing the lawsuit say the federal government has failed to properly consult with …
The University of Pennsylvania is one of several universities being sued by employees amid allegations that the schools’ retirement plans come with excessive fees. In addition to the University of Pennsylvania, complaints were filed on behalf of employees of Duke University, Johns Hopkins University and Vanderbilt University. Before the latest round of complaints, lawsuits were …
Sir Philip Green is trying to end the threat of legal action against him over the sale of BHS by writing a cheque for more than £300 million that would help to plug a hole in the company’s pension fund. Representatives of the tycoon and the pensions regulator are holding talks on the future of the BHS fund, which is estimated to have a deficit of about £700 million. Yesterday the 22 remaining …
A Jasper County judge has denied a challenge to the formula used to calculate disability payments for Joplin firefighters and police officers. Circuit Judge David Mouton ruled in favor of the board of trustees for the Police and Firefighters Pension Fund and the city of Joplin in a lawsuit filed five years ago by a disabled firefighter and the firefighters union. Police officers did not join …
Trinity Health Corp. will pay $75 million to settle class action claims that it underfunded its pension plans by improperly treating them as “church plans” exempt from federal law (Lann v. Trinity Health Corp., D. Md., No. 8:14-cv-02237-PJM, motion for preliminary settlement approval filed
8/1/16).
A federal judge has given preliminary approval to a $64-million settlement to be paid to investors by two former Dana Holding Corp. top executives who were the target of a securities-fraud class action lawsuit. In an order issued this week, Judge James Carr of the U.S. District Court in Toledo tentatively approved the settlement and scheduled a hearing for Nov. 18. In the meantime, the judge …