Skrtich et al v. Pinnacle West Capital Corporation et al

Plaintiffs allege that Pinnacle West Capital Corporation, the Benefit Administration Committee of the Pinnacle West Capital Corporation Retirement Plan, and the Committee’s individual members failed to pay joint and survivor annuity benefits under the Pinnacle West Capital Corporation Retirement Plan in amounts that satisfy the actuarial equivalence requirements under the Employee Retirement Income Act of 1974. Plaintiffs argue that by failing to pay JSA benefits in amounts actuarially equivalent to the single life annuities offered to participants under the Plan, Defendants are causing retirees to lose part of their vested retirement benefits in violation of ERISA.

Proposed Class: Thousands of participants in the Plan who began receiving a JSA or QPSA after November 1, 2016

Status: Defendants filed a Motion to Dismiss on December 23, 2022. The case is currently in active litigation.