US Bancorp Retirees Lose Class Action Bid Over Pension Calculations

A recent legal challenge involving US Bancorp retirees has emerged, where the retirees are contesting the calculations used for their early retirement pensions. They sought to certify their case as a 2,335-person class action, representing various forms of pension formats. However, Judge Nancy E. Brasel stated in her April 4 opinion that the diversity in pension plans, including traditional annuities and those with guaranteed payments, complicates the class certification. As a result, some individuals involved in the lawsuit may find themselves worse off if the proposed calculation methods are applied, leading to the judge's decision to deny the class certification bid.