Did you retire from Verizon after 2019? You May Be Owed More Pension Money Than You Think.

NEW YORK, NY / ACCESS Newswire / April 1, 2025 / A class action lawsuit is being investigated against Verizon Communications Inc. (NYSE:VZ) for using outdated and faulty formulas to calculate pension benefits. The issue affects retirees who began collecting benefits in the last six years - including both management and sales associates.

Pensions are often the main source of income for retirees. But some former Verizon employees may not be receiving the full amount they earned. The issue centers around the formulas Verizon uses to calculate joint and survivor annuities, a type of pension that continues to pay a spouse after the retiree dies. When a retiree selects this type of benefit, the company must convert the retiree's pension into a shared benefit using formulas that factor in life expectancy and interest rates. But today's retirees are living longer than retirees in the 1980s and may be getting less money each month than they should.

Federal law, called ERISA, requires these converted benefits to be actuarially equivalent, or of equal value, to the pension the retiree earned. If old mortality data is used, the benefit may fall short, potentially violating federal law. We are investigating whether Verizon used such outdated data.

If you worked for Verizon and started receiving a survivor annuity in the last six years, the attorneys at Siri & Glimstad want to hear from you! We can help determine whether your benefits were miscalculated at no cost to you.

If you want to learn more about this potential class action, please contact Attorney Oren Faircloth at 888-747-4529 or ofaircloth@sirillp.com.

SOURCE: Siri & Glimstad

View the original press release on ACCESS Newswire