AT&T, Retirees Make Deal Over Pension Shortchanging Allegations

AT&T Inc. plans to settle a proposed class action by retirees challenging how the telecommunications company calculates the pensions of certain married workers.

The parties are finalizing a settlement term sheet and plan to update the court on when they’ll submit the deal for court approval later this week, they told Judge James Donato in a joint notice filed April 10 in the US District Court for the Northern District of California. The notice didn’t include details about the terms of their agreement.

• The lawsuit says AT&T shortchanges the retirement payments of workers who choose pension formats that pay benefits ...