Summary of the Investigation
Cohen Milstein is investigating pension plans that miscalculate pension benefits, thereby resulting, or potentially resulting, in the incorrect payment of pension benefits.
Scope of the Investigation
Pension benefit miscalculations may occur due to one or more of the following:
- Your pension was calculated using an incorrect formula;
- Your pension was calculated using incorrect information (i.e. an incorrect date of birth, years of service, marital information, interest rate, or compensation);
- Your pension calculation does not take into account any enhanced pension benefits that you were promised as part of your retirement or termination of employment;
- Your pension calculation contains mathematical errors;
- The calculation of your lump sum payment fails to take into account all benefits (e.g. a cost of living adjustment (“COLA”)) or applies an improper interest rate;
- The plan administrator failed to interpret the terms of your pension plan correctly;
- The company has improperly amended the plan to reduce your benefits;
- Additionally, if your company has merged with another company, there may be confusion over what pension benefits you are entitled to.
What Information Do We Need From You
We will want to obtain some information in order to investigate your claim, including a calculation of your pension benefits. Under ERISA, the federal law that governs pensions, you are entitled to receive a calculation of your pension benefits. If you do not have a calculation of your pension benefits, we can assist you in making a request for calculation of pension benefits. We can also assist you in requesting the following documents: your pension calculation or estimate of pension; the plan document for your pension plan; the summary plan description for your pension plan; your date of birth, date of hire, date of termination/retirement; your application for benefits; and any calculation or estimates of benefits provided to you.
Cohen Milstein’s Current Pension Calculation Cases
Pacific Telesis Group Salaried Pension Plan ATB Benefit Miscalculation Litigation
This lawsuit, entitled Barnes v. AT&T Pension Benefit Plan – NonBargained Program, No. 08-04058 EMC (N.D. Cal.), alleges that certain participants of the Pacific Telesis Group Cash Balance Plan for Salaried Employees who received a discounted Accelerated Transition Benefit at their first termination and subsequently bridged their service by returning to work for a participating company were entitled to an enhanced ATB upon their second termination.
Cohen Milstein’s Successes in Pension Benefits Cases
SBC Pension Benefit Plan Non-Bargained Program Pension Calculation Litigation
This class action lawsuit settled for $16 million on behalf of approximately 3,800 management retirees who took the Enhanced Grandfathered Benefit offered under an early retirement package known as the EPR. The lawsuit alleged that SBC miscalculated the pensions for this group of retirees by omitting a pay period in the average annual compensation calculation of their pension benefit.
Fujitsu Group Partial Termination Litigation
This class action lawsuit settled on behalf of former employees of Fujitsu of America and its subsidiaries who were laid off with more than three years of service. As part of the settlement, Fujitsu Group 401(k) Plan restored 80% of the additional amounts that Class Members would have received but for the Amendment. The lawsuit alleged that Fujitsu violated ERISA by adopting a plan provision changing the plan’s vesting schedule in violation of a provision of ERISA that prohibits the involuntary application of such changes to employees with more than three years of service under the plan. For more information about this case, click here.
Whom to Contact for More Information
If you have received a pension or estimate of pension benefits that you believe has been miscalculated, please contact one of the following persons:
Mary J. Bortscheller, Esq. firstname.lastname@example.org
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W., Suite 500
Washington, D.C. 20005
Telephone: 888-240-0775 or 202-408-4600