Northrop Grumman "ESL Offset" Pension Settlement
Northrop Grumman "ESL Offset" Pension Settlement
Northrop Grumman has agreed to a $21.5 million settlement to resolve claims regarding pension benefit calculations and the ESL Offset. Eligible members may receive upfront payments or increased monthly benefits.
Claim Value:
Varies
Overview
Northrup Grumman Space & Mission Systems Corp. has agreed to pay $21.5 million to settle a class action lawsuit alleging that the employer violated ERISA (Employee Retirement Income Security Act of 1974) by failing to properly disclose information about the "ESL Offset" and failed to pay certain minimum pension benefits. Eligible Class Members will receive additional pension benefits calculated using a points-based approach, which may include an initial upfront payment, an increase in monthly pension benefit amounts, or both.
Eligibility
You may be a Settlement Class Member if your pension benefits under the Northrop Grumman Space & Mission Systems Corp. Salaried Pension Plan were subject to the ESL Offset after December 31, 1984.
You were eligible for the Northrop Grumman Space & Mission Systems Corp. Salaried Pension Plan
Your benefit benefits under the Northrop Pension Plan were subject to the ESL Offset after December 31, 1984
(The Northrop Pension Plan was formerly known as the TRW Salaried Pension Plan.) No claim form is required. Benefits will be calculated and paid automatically to eligible Class Members if the settlement receives final approval. Benefits will be calculated using a points-based approach and considering various factors, including: the Class Member's ESL account balance, pre- and post-1985 service, the interest projection period, and whether or not the Class Member received any benefit from the plan other than his or her ESL account balance.
Automatic Benefits for Class Members
No claim form is required for this settlement.
Benefits are calculated automatically based on a points-based approach.
Payments are estimated to begin 3-4 months after final approval.
Frequently Asked Questions
Our mission is to help people get the compensation they deserve. We are providing this information and a direct link to the official site to ensure you don't miss out on money you may be owed. However, this will mean that claims submitted for this settlement will not be reviewed, monitored, or have additional support from ClaimsHero.
No. For this claim, we are directing you to the official claims administrator website. There are no fees from ClaimsHero. This is different from our full-service representation campaigns, where we work on a contingency basis, review and monitor the status of your claim, and only get paid if your claim is successful.
Our goal is to raise awareness and guide you to the official claims website. We do not review your claim, handle your documents, monitor the status of your claim, contact you if there are any needed revisions or updates, or represent you in this specific matter. Our goal is to ensure you are provided a path to make your claim.
You must file your claim directly on the official settlement website, which is managed by the court-appointed claims administrator. The only place to submit your claim is through the link provided above.
All questions about your claim must be directed to the claims administrator. Because we simply provide a path to the claims administrator’s website to submit, our support team does not have access to your submission details. You can find their contact information on the official website through the link provided above.
If you have more questions, please visit the official website of this settlement and contact the claims administrator.
