Bloomberg Law
June 28, 2019, 2:41 PM

Raytheon Joins List of Employers Sued Over Outdated Pension Data

Jacklyn Wille
Jacklyn Wille

Raytheon Co. shortchanges certain workers’ retirement benefits by calculating their pensions using actuarial data that’s nearly 50 years old, according to a new class action complaint.

The lawsuit was filed by longtime Raytheon employee Johnny Cruz, who says his early retirement pension is $57 per month less than he would have received under a calculation method that took into account recent increases in life expectancies.

Raytheon is at least the eighth large company to be sued in recent months over the allegedly outdated actuarial data used by its pension plan. Similar lawsuits are pending against American Airlines, PepsiCo Inc. ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.