A Win for Retirees’ Rights
Franklin’s legal team said the case underscores the need for employers to keep pension formulas current with modern life expectancy data. The court found that the settlement not only compensates affected retirees but also ensures future compliance with ERISA standards.
While final approval is still pending, the preliminary ruling represents a crucial victory for the class. The settlement ensures that retirees—many of whom depend heavily on these benefits—will see their compensation reflect the true value of their years of service.
