Lockheed Inks $1.2M COBRA Notice Deal 'To Purchase Peace'

By Kevin Stawicki (September 3, 2019, 7:38 PM EDT) -- Lockheed Martin Corp. has agreed to a $1.25 million settlement to end a proposed Employee Retirement Income Security Act class action accusing the defense contractor of failing to give former employees proper notice about continuing their health care coverage.

The proposed class of Lockheed Martin's Corporation Group Benefits Plan participants asked a Florida federal judge Friday to grant preliminary approval of the deal that resolves Angela Hicks' claims she received a deficient notice about her rights under the Consolidated Omnibus Budget Reconciliation Act when her husband was let go from the company. Under COBRA, a beneficiary can choose to stay on...

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