A former Rockwell Automation Inc. employee, Mark Berube, is seeking approval from a Wisconsin federal court for a $900,000 settlement that could bring an end to his proposed class action lawsuit. The lawsuit accuses the factory-equipment manufacturer of unfairly using outdated data in calculating pension benefits.
Rockwell Retiree Seeks $900K Deal : Settlement Motion Unveiled
In a compelling motion for settlement approval filed on Wednesday, Mark Berube presented the court with an agreement reached between himself and Rockwell Automation. The heart of the matter revolves around the company’s use of mortality rate data from the 1980s to compute joint and survivor annuities (JSAs), benefits meant for company retirees that pass on to their spouses upon their demise.
“Time is of the essence,” Berube emphasized, pointing out that in litigation, delays are a significant concern. This is especially critical in a case involving retirees in their 60s and 70s. He argued that such delays can cause substantial harm to class members already in retirement. In contrast, if this settlement gets the green light, the class will start receiving increased monthly pension payments immediately, rather than years down the line if the case were to go through a trial successfully.
Rockwell Retiree Seeks $900K Deal : The Wise Choice of Settlement
Mark Berube’s legal theory has not been tested in any trial to date, and there are no appellate decisions directly addressing the same claims. Hence, Berube sees settling as a wise choice. The proposed settlement covers approximately 60% of the classwide damages, according to the motion.
