Outdated Mortality Table ERISA Suit Filed in Arizona
The lawsuit alleges that Pinnacle West, an electric utility, used outdated mortality tables, causing it to underestimate the present value of employee pensions.
IBM Pension Plan Faces Outdated Mortality Data Challenge
The plaintiffs are seeking to remedy alleged failures by an IBM pension plan to pay joint and survivor annuity benefits in amounts that are ‘actuarially equivalent’ to a single life annuity benefit.
ERISA Suit Against UPS Refiled in District Court
Plaintiffs have refiled an ERISA lawsuit against UPS, more than a year and a half after their original complaint was dismissed for their failure to exhaust all administrative remedies prior to engaging in litigation.
Partners Healthcare Defeats ERISA Actuarial Equivalence Lawsuit
The case has a complex procedural history that has seen rulings issued both in favor of the plaintiffs and in favor of the defense.
Delta Air Lines Faces ERISA Actuarial Equivalence Pension Lawsuit
The complaint challenges the use of both allegedly outdated mortality tables and artificially high interest rate assumptions in the conversion of annuity types under multiple pension plans.
Citgo Is Latest Large Employer Facing Actuarial Equivalence Challenge
The proposed class of plaintiffs alleges Citgo is using mortality assumptions that are at least 50 years out of date while converting from a pension plan’s standard annuity benefit to alternative options.
Mixed Ruling Issued in MetLife Mortality Table ERISA Lawsuit
The retirees’ main claim is that the plan’s use of mortality tables from 1971 and 1983 to convert default retirement benefits into the alternative benefits that they opted to receive constitutes unreasonable actuarial assumptions.
Raytheon ‘Actuarial Equivalence’ Settlement Details Published
Allegations in the underlying lawsuit match those included in an emerging class of cases filed against large employers across the United States.
UPS Defeats ‘Actuarial Equivalence’ ERISA Challenge
The defense has prevailed on technical grounds in a lawsuit that argues plan sponsors should be required to use fresh mortality and interest rate assumptions when converting between the standard and alternative forms of annuities to be paid out by a pension plan.
Court Clears ‘Actuarial Equivalence’ Lawsuit for Discovery
Several interim rulings have been handed down in the case, which asks some key questions about the meaning of the term ‘actuarial equivalence’ in the context of ERISA litigation.
Club Vita Issues Report About How ZIP Codes Affect Longevity
Club Vita teamed up with Mercer to develop a proprietary model, VitaCurves, that uses the nine-digit ZIP code to help defined benefit (DB) plan sponsors more accurately make longevity assumptions.
Mercer, Club Vita Provide Pension Plan Longevity Risk Reporting
An aggregate enhanced data set will be used by Mercer's consulting teams to provide more powerful insights to help with client decision making.
MetLife Pension Calculations Questioned in ERISA Complaint
The complaint suggests MetLife is failing to meet its obligations to ensure different annuity options offered to pension plan participants are actuarially equivalent default benefit, as required under ERISA.