Lockheed Martin Scores Quick Appeal Over Athene Pension Transfer

Lockheed Martin Corp. can immediately appeal a decision allowing retirees to move forward with claims that the company jeopardized their retirement benefits by offloading their pensions to an overly risky annuity provider.

Judge Brendan A. Hurson authorized an immediate appeal to the US Court of Appeals for the Fourth Circuit of his March decision that the Lockheed retirees identified an injury giving them standing to challenge the pension risk transfers. There’s a “clear disagreement” among district courts on this question, and the Fourth Circuit’s ultimate decision is likely to simplify any remaining litigation between the parties, the judge said. ...