Citgo’s Retiree Pension Data Class Settlement Clears Last Hurdle

Citgo Petroleum Corp. finalized a $14.75 million class settlement with retirees who accused the company of wrongly shortchanging their pension benefits.

The agreement provides the 1,700 class members with $10 million in increased benefits, with an additional $4.75 million earmarked for attorneys’ fees and expenses, according to the settlement motion. Judge Matthew Kennelly granted final approval to the deal in an order issued Monday in the US District Court for the Northern District of Illinois.

• The lawsuit says that before 2018, Citgo calculated certain married workers’ pensions using 50-year-old actuarial data that didn’t account for recent increases in lifespan, ...