Before The Show #108 - Latest Class Action Wave
from The Knowledge Group Podcasts Hosted by The Knowledge Group
Webcast URL: https://www.theknowledgegroup.org/webcasts/latest-class-action-wave/ Join us for this Knowledge Group Online CLE Actuarial Factors Pension Plans Webinar. In recent months, we have seen a new wave of ERISA class action litigation challenging the reasonableness of actuarial factors used in pension plans. A group of class action complaints have been filed against traditional pension designs. These complaints allege the plans are using out-of-date mortality tables and interest assumptions to calculate optional forms of annuity and to reduce annuities for early commencement. As a result, the suits claim that annuities paid to participants under these plans are subject to excessive actuarial reductions, improperly denying participants their full vested benefits. The plaintiffs seek reformation of the plans’ terms, which is allegedly necessary to bring them into compliance with ERISA, recovery of past underpayments and resulting future increases in benefits. In this 90-minute Webcast, a panel of distinguished professionals and thought leaders assembled by The Knowledge Group will discuss the implications of the cases that have been filed, the prospects for additional similar suits, prior case law regarding the reasonableness of actuarial factors, the magnitude of risk that the suits present, and the steps that plan sponsors should be taking now. For anymore information please click on the webcast url at the top of this description.
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