Overview
Luxottica’s pension plan may pay benefits below what the law requires. Find out if you’re impacted.
Summary of Lawsuit
On November 1, 2021, Plaintiff filed a complaint on behalf of a class of participants and beneficiaries of the Luxottica Group Pension Plan, alleging violations of the Employee Retirement Income Security Act (“ERISA”). Plaintiff’s complaint alleges that, prior to 2019, the Luxottica Group Pension Plan utilized outdated mortality tables to determine the value of participants’ joint and survivor annuities (“JSAs”). As a result, married retirees who elected JSAs received less than the actuarial equivalent of the benefit that ERISA protects. This lawsuit seeks to recover amounts due to members of the class.
Class Action Allegations
This lawsuit is brought on behalf of all participants and beneficiaries of the Luxottica Group Pension Plan who had their benefits calculated pursuant to the actuarial assumptions in effect before January 1, 2019, and who are receiving a joint and survivor annuity which is less than the value of the single life annuity converted to a JSA using the interest rates and mortality tables set forth in 26 U.S.C. §417(e).
Status of the Litigation
- On March 10, 2025, the U.S. Court of Appeals for the Second Circuit ordered Luxottica’s appeal dropped, after Luxottica agreed to voluntarily drop its appeal to enforce an arbitration agreement in this case.
- On December 2, 2024, the Court granted Plaintiffs’ motion for reconsideration of its 2023 order that had granted a motion to dismiss and to compel arbitration of the class action filed on behalf of pension plan participants under ERISA. However, the the Court held firm on its earlier decision to compel individual arbitration of other claims.
- On October 16, 2023, Plaintiffs filed a motion for reconsideration.
- On September 30, 2023, the Court granted Defendant’s motion to compel arbitration and stayed the case pending arbitration.
- On November 1, 2021, Plaintiff Duke, on behalf of all members of the class, filed a complaint. Defendants filed a motion to compel arbitration.
Whom to Contact
Sydney Greenman, Paralegal (email)