MetLife Must Face Suit Alleging Outdated Pension Benefits Math

Metropolitan Life Insurance Co. failed to persuade a federal court on Monday to nix claims that it shortchanged workers’ retirement benefits by calculating their pensions using outdated life expectancy data.

The class action was filed in 2018 by MetLife retirees in the US District Court for the Southern District of New York. The retirees accused the insurer of calculating certain pension plans using life expectancy tables from the 1970s and 1980s. The retirees argue this reduces benefits in violation of the Employee Retirement Income Security Act.

Following class certification, MetLife sought summary judgment last year, arguing its life expectancy ...