US Bancorp Pension Math Suit Inches Toward Class Certification

US Bancorp retirees got a boost in their lawsuit over early retirement pension benefits, when a federal magistrate judge said their second bid for class certification fixed the problems that doomed their first attempt.

The retirees’ proposed class can be certified because it excludes certain workers whose default pension format is a lifetime annuity with a guaranteed 10-year payout, instead of a traditional, lifetime annuity, Magistrate Judge Leo I. Brisbois said. The inclusion of these workers led Judge Nancy E. Brasel to reject their first request for class certification, explaining in an April opinion that some of these workers would ...