Alcoa, Independent Fiduciary Are Sued Under ERISA For Pension Risk Transfers

(April 24, 2024, 9:21 AM EDT) -- WASHINGTON, D.C. — In what is at least the fourth putative class case filed in the past month challenging pension risk transfers (PRTs), retirees sued Alcoa Corp., related entities and an independent fiduciary in a District of Columbia federal court over four transactions they argue improperly “offloaded over $2 billion of Alcoa’s pension obligations.”...