Kohn, Swift & Graf represents a group of objectors to a settlement reached in a class action brought on behalf of all Rohm and Haas retirees who took their pensions in the form of a lump sum distribution.
The case, Williams v. Rohm and Haas Pension Plan, which is pending in the U.S. District Court for the Southern District of Indiana, challenged the fact that the pension plan provided cost-of-living increases (COLAs) to retirees who took their pensions in the form of an annuity, but did not include the value of the COLA in its calculation of the class members’ lump sums. In 2005, the court ruled in Mr. Williams’ favor, holding that the pension plan owed an additional amount to everyone who has taken a lump sum, to compensate them for the value of the missing COLA. The pension plan exhausted its appeals, and in 2008, the case was returned to the lower court to determine how the class members’ awards should be calculated. member. Before the court made that determination, the parties reached a proposed settlement, which they have now presented to the court for approval.
Notes, Links & Related Documents:
Download a copy of the Objection filed on February 11, 2010.
Originally Posted: 02/12/2010