Pension Trustees Strike Deal in Retirees’ Suit Over Allianz Loss

Retirees who say their pension plan lost millions after the collapse of Allianz SE’s Structured Alpha funds reached a settlement with plan trustees, with claims against investment adviser Callan LLC still pending.

The retirees are finalizing settlement paperwork with the Carpenters of Western Washington Board of Trustees and expect to file their deal for court approval by the end of June, they said in a May 1 filing that didn’t include details about the terms of the agreement. The settlement doesn’t resolve their pending claims against Callan, but discussions are “ongoing” between these parties, according to court filings.

The ...