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Rockwell Automation Accused of Outdated Pension Calculations

April 9, 2019, 6:01 PM

Rockwell Automation Inc. is the latest employer to be accused of shortchanging worker pensions by relying on lifespan assumptions that haven’t been updated for more than 40 years.

The April 8 lawsuit, filed on behalf of a proposed class of “thousands” of Rockwell retirees, claims the company calculates pensions using mortality tables from the 1970s and 1980s. The tables allegedly don’t reflect recent increases in lifespan tied to medical advancements and lifestyle improvements. By using these outdated tables, Rockwell causes retirees to forfeit a portion of their pensions in violation of the Employee Retirement Income Security Act, the lawsuit...

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