Duke University Strikes $2.35 Million Deal to End Pension Suit

Duke University reached a class settlement valued at $2.35 million in a lawsuit by a retiree who says her pension benefits were shortchanged because of the school’s flawed calculations.

The deal is expected to provide an average boost of about $14 to the monthly payments of about 720 Duke retirees and beneficiaries who began receiving certain optional pension formats between September 2017 and July 2023. It represents about 18% of the total damages calculated by the retirees’ actuarial expert, plaintiff Joy Franklin said in a Monday motion asking that the deal receive preliminary approval.

Franklin’s lawsuit challenges how Duke calculated ...