Judge Denies Reconsideration On $59M Raytheon Pension Class Settlement

Mealey's (June 16, 2021, 10:39 AM EDT) -- BOSTON — Following her June 10 order denying an objector’s motion for reconsideration, a federal judge in Massachusetts on June 11 issued a final order and judgment on a $59 million class settlement of an action filed by a former Raytheon Co. employee who alleged that 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calculated joint and survivor annuity (JSA) benefits and preretirement survivor annuity (PSA) benefits by using outdated mortality and interest rate assumptions, resulting in benefits less than an “actuarially equivalent” amount....