Benefits June 8, 2005
Court OKs Time Warner Benefit Settlement
June 8, 2005 (PLANSPONSOR.com) - A federal judge in
New York has approved a $2.9 million class-action settlement
of a legal battle with a group of Time Warner retired
employees who claimed the media company miscalculated their
pension benefits.
Reported by Fred Schneyer
US District Judge Denise Cote’s decision came in the settlement of a dispute over allegations that Time Warner did not annualize their partial years of compensation when calculating pension benefits, and underpaid them, according to Reuters.
The estimated number of covered workers is about 10,000.
A Time Warner spokeswoman had no immediate comment on the settlement approval, according to Reuters.