Preliminary Approval Of $2.8M Settlement Sought In ERISA Mortality Table Dispute

Mealey's (November 16, 2021, 10:55 AM EST) -- NEWPORT NEWS, Va. — The plaintiff of an employee class action on Nov. 12 moved in a Virginia federal court for preliminary approval of an agreement under which a shipbuilder would pay additional benefits “with an estimated present value of $2.8 million” to settle allegations that the use of a 50-year-old mortality table to calculate benefits for some retirees violated of the Employee Retirement Income Security Act....