Client Alert: New Wave of Pension Plan Litigation

Several lawsuits have been filed in recent months against pension plan sponsors and fiduciaries over the actuarial assumptions used in some common pension plan calculations. The defendants in these lawsuits are some large pension plan sponsors and the fiduciaries of their pension plans. The plaintiffs are retired plan participants and beneficiaries asserting violations of ERISA based largely on their plans’ continued application of interest rates and mortality tables that date back to the 1970s and 1980s.