Class Settlement Valued At $59 Million Proposed In Raytheon Pension Dispute

Mealey's (February 23, 2021, 3:20 PM EST) -- BOSTON — A former Raytheon Co. employee who filed a putative class complaint alleging that six pension plans sponsored by Raytheon calculated Joint and Survivor Annuity (JSA) benefits and preretirement survivor annuity (PSA) benefits by using outdated mortality and interest rate assumptions resulting in benefits less than an “actuarially equivalent” amount filed a motion on Feb. 12 seeking preliminary approval of a class settlement agreement that he alleges is valued at approximately $59 million....