On March 28, 2025, two neighboring district courts issued sharply contrasting decisions on constitutional standing in lawsuits challenging pension risk transfers under the Employee Retirement Income Security Act of 1974 (“ERISA”).  The United States District Court for the District of Columbia, in Camire et al. v. Alcoa USA Corp. (“Alcoa Decision”)

Potentially signaling a new wave of litigation, AT&T Inc. and AT&T Services, Inc. (AT&T) were hit with a class-action lawsuit on March 11, 2024 filed in the United States District Court for the District of Massachusetts relating to the 2023 transfer of $8 billion of their pension liabilities – covering approximately 96,000 participants in AT&T’s