Northrop Grumman Retirees Again Revive Pension Estimates Lawsuit

Northrop Grumman Corp. retirees who say they were misled about their pensions have viable claims under federal law based on alleged inaccuracies in their payout estimates, the Ninth Circuit ruled Thursday.

The retirees can pursue claims under provisions of the Employee Retirement Income Security Act requiring pension plans to provide benefit estimates at regular intervals and upon request, the US Court of Appeals for the Ninth Circuit said. Deciding an issue of first impression, the court said pension plan participants can challenge benefit statements they say are substantially inaccurate under the portion of ERISA that requires statements to be ...