Belknap v. Partners Healthcare System, Inc.

Plaintiff brought this class action lawsuit on behalf of himself and all participants and beneficiaries of the Consolidated Cash Balance Program of Partners Healthcare and Member Organizations (f/k/a Massachusetts General Hospital Cash Balance Retirement Plan) and the Brigham and Women’s Hospital Retirement Plan (the “Plans”) who are receiving an optional form of retirement benefit (other than a lump sum distribution). Plaintiff alleges that the alternative forms of benefit, such a joint and survivor annuities, are not the actuarial equivalent of the standard, single-life annuity offered under the Plan, in violation of the Employee Retirement Income Security Act of 1974 (“ERISA”). Retirees that select these alternative forms of benefits receive less in their monthly pension checks than they should as a result of the outdated actuarial formulas used by Defendants.

On January 24, 2020, the Court granted in part and denied in part Defendant’s Motion to Dismiss the complaint and offered the parties an opportunity for further briefing of the legal issues. On April 3, 2020, Defendants filed a Motion to Dismiss Plaintiff’s Amended Complaint, which the Court denied on August 5, 2020.

Defendants filed an Answer to Plaintiff’s Amended Complaint on September 9, 2020 and two additional motions to dismiss, which the Court has not yet ruled on. This case is currently in active litigation.