Raytheon Can’t Nix Would-Be Class Suit Over Stale Pension Data

A Raytheon Co. retiree who says the company shorts his monthly pension benefits by $57 can move forward with a proposed class action challenging the assumptions the company uses to calculate pensions, a federal judge in Boston ruled.

More information is needed to determine whether Raytheon’s actuarial and interest rate assumptions are reasonable under the Employee Retirement Income Security Act, Judge Patti B. Saris of the U.S. District Court for the District of Massachusetts said in a Jan. 17 ruling denying the company’s motion to dismiss.

Raytheon retiree Johnny Cruz adequately alleged that Raytheon’s assumptions were unreasonable even though Raytheon ...