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”)
Updates and Best Practices Regarding Form 5500 Filings for Single-Employer Defined Contribution Plans
Believe it or not, the due date for annual Form 5500 filings is once again approaching. As a reminder, Forms 5500 are due by the last day of the seventh month following the end of the plan year. A 2½ month extension will automatically be granted upon filing a Form 5558. For calendar year plans
AT&T and Lockheed Martin Face Class Actions Over Pension Risk Transfers To Athene
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
ERISA Actuarial Assumptions Litigation Nears End of First Phase
As the bellwether cases in the ERISA actuarial assumptions litigation approach the end of the motion to dismiss stage, this is a good time to step back and assess how they are proceeding.
Test cases of this sort tend to unfold in phases.
- In the first phase, plaintiffs file a series of test cases, floating
Seventh ERISA Case Filed Challenging Actuarial Assumptions Used in DB Plans
Plaintiffs’ lawyers have filed a series of cases challenging the lawfulness of the actuarial assumptions used in certain defined benefit retirement plans. The seventh such case was filed on May 20, 2019 in the Eastern District of Virginia.
All seven complaints are based on the same general theories and the same specific claims for relief