Court OKs Time Warner Benefit Settlement

June 8, 2005 ( - 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.

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.