Rockwell Automation’s $900,000 Pension Deal Clears First Hurdle

Rockwell Automation Inc. received preliminary approval for a $900,000 class settlement that’s expected to boost the monthly pension payments of about 200 married retirees.

The deal, which represents about 60% of the retirees’ estimated damages, would resolve litigation challenging the actuarial data Rockwell uses to calculate certain workers’ pension benefits.

Judge Lynn Adelman of the US District Court for the Eastern District of Wisconsin granted preliminary approval to the deal in an order issued Tuesday. He scheduled a March 8 fairness hearing to further evaluate the agreement.

The lawsuit by Rockwell retiree Mark Berube says the company calculated joint ...