Duffy v. Anheuser-Busch Companies, LLC

Plaintiff brought this class action lawsuit on behalf of himself and all participants and beneficiaries of the Anheuser-Busch Companies Pension Plan (the “Plan”) 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these alternative forms of benefits receive less in their monthly pension checks than they should as a result of the outdated actuarial formulas used by Defendants.  Defendants’ motion to dismiss the Complaint was denied on March 27, 2020. Plaintiffs filed an Amended Complaint on July 31, 2020. The case was withdrawn on November 10, 2020.