Federal Judge Adopts Plaintiffs’ Methodologies In Cigna Conversion Suit

(October 19, 2018, 10:51 AM EDT) -- NEW HAVEN, Conn. — A Connecticut federal judge on Oct. 16 adopted the proposed interest rate and age assumption methodologies proposed by plaintiffs in a lawsuit regarding Cigna Corp.’s conversion from a traditional defined-benefit pension plan to a cash-balance plan after determining that the plaintiffs’ methodologies are more persuasive than Cigna’s methodologies for the purpose of calculating the net present value of the remedy award and calculating the attorney fees to which the plaintiffs may be entitled (Janice C. Amara, et al. v. Cigna Corp., et al., No. 3:01-cv-2361, D. Conn., 2018 U.S. Dist. LEXIS 178609)....

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