McFadden v. Sprint Communications, LLC et al

Plaintiff brought this class action against Sprint Communications, LLC, Sprint’s Employee Benefits Committee, and the Committee’s individual members alleging a failure to pay joint and survivor annuity and qualified pre-retirement survivor annuity benefits in amounts that are actuarially equivalent to single life annuities offered under the Sprint Retirement Pension Plan. Plaintiffs allege that this failure to pay has and will cause retirees and beneficiaries of the Plan to lose part of their vested retirement benefits in violation of the Employee Retirement Income Security Act of 1974.

Proposed Class: Participants and beneficiaries of the Plan (excluding Plan fiduciaries) who began receiving a 50%, 75% or 100% JSA or a QPSA on or after November 11, 2016, whose benefits had a present value that was less than the present value of the SLA they were offered using the applicable Treasury Assumptions as of each participant’s Benefit Commencement Date.

Status: The parties are currently engaged in discovery