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Posts Tagged ‘retirees’

Caterpillar, Inc. Settles ERISA Class Action

Monday, October 25th, 2010

The U.S. District Court for the Middle District of Tennessee is expected to approve a $16.5 million dollar settlement Caterpillar has reached with its’ employees.  The class action suit alleged that Caterpillar had failed to keep its promise to pay lifetime health benefits at no cost to its retirees and spouses.  The company’s excessive 401k plan fees were also at issue in this action.  Additionally, the lawsuit challenged the benefit modifications that had already been made to the health plan such as higher prescription co-pays.  The settlement award is believed to be the largest for a lawsuit over benefits in a retirement plan.

Gaming Social Security

Wednesday, November 4th, 2009

Sophisticated seniors are finding strategies to optimize retirees’ Social Security benefits reports Linda Stern in Newsweek.  Whether sharing spousal benefits and then refunding and restarting their benefits or claiming and deferring their monthly checks, seniors are “winning” the Social Security Game.  Before you decide to take early benefits or defer benefits until you reach full retirement, read about the loopholes of opportunity in the current system.

http://www.newsweek.com/id/219715