1st Circ. May Shed Light On Viability Of Mortality Table Suits
By Kellie Mejdrich (April 8, 2022, 12:58 PM EDT) -- Ambiguity about how annuity payouts, intended to guarantee income during retirement, should be handled under federal benefits law has spawned a wave of lawsuits from retirees who say they were shortchanged due to outdated actuarial data.
A pending First Circuit appeal, experts say, could yield valuable guidance on whether this type of suit has legs. The legal battle follows a Massachusetts federal judge's March dismissal of a proposed class action brought by retirees who claim Partners Healthcare System violated the Employee Retirement Income Security Act by underpaying them using outdated actuarial assumptions containing decades-old mortality tables to calculate retirement payouts.
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!