Verizon retirees win class action status in pension fight

04/3/2013 | National Underwriter Life & Health

Retirees who are suing Verizon Communications over its transfer of their pension to Prudential Insurance have been granted class action status. "This case is likely to be closely watched by employee benefits leaders at thousands of companies across America, with the outcome impacting the management of trillions of dollars in ERISA protected pension assets," said Curtis Kennedy, a lawyer representing the plaintiffs.

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