AT&T to Pay $184.1M Settlement to Former Employees Over Pension Plan

AT&T (T.N) agreed to pay $184.1 million to settle a lawsuit accusing the telecommunications company of ​shortchanging about 300,000 current and former employees ‌out of pension payments, court papers show.

• A preliminary settlement of the proposed class action was filed on ​Thursday in San Francisco federal court, ​and requires a judge’s approval.
• AT&T was accused ⁠of violating the federal Employee Retirement Income Security ​Act of 1974, or ERISA, by failing to ​provide pension payments to married workers that were the “actuarial equivalent” of payments to single workers.

Read more at Reuters