Former employees of one of Puerto Rico’s largest insurers negotiated class settlements worth $2.6 million in their lawsuit claiming pension mismanagement and lost retirement benefits.
Real Legacy Assurance Company Inc. employees are seeking court approval for four settlements resolving claims against multiple defendants, including Real Legacy owner Cooperativa de Seguros Multiples de Puerto Rico, plan actuary Willis Towers Watson US LLC, and plan trustee Banco Popular de Puerto Rico. The deals, announced March 13 in the US District Court for the District of Puerto Rico, follow a $400,000 class settlement with plan investment manager Santander Securities LLC.
The 217-person class ...
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