Adams v. U.S. Bancorp

Plaintiffs brought this class action lawsuit on behalf of themselves and all other participants of U.S. Bank’s pension plan who accrued a pension benefit under the Plan’s “Part B” formula that went into effect in 2002 when they retired before age 65. Plaintiffs allege that U.S. Bank excessively reduced their pensions when they retired early, resulting in benefits that violated the actuarial equivalence requirements in the Employee Retirement Income Security Act of 1974 (“ERISA”).

Class: Participants of U.S. Bank’s pension plan who accrued a pension benefit under the Plan’s “Part B” formula when they retired before age 65

Status: Defendant filed a Motion to Dismiss which was denied on October 17, 2022. The case is currently in active litigation.