ERISA Win For California Workers

Martin & Bonnett Secures $15.4 Million ERISA Settlement

The California Field Ironworkers Pension Trust agreed to pay $15.4 million to settle a class action lawsuit brought under the Employment Retirement Income Security Act (ERISA).

The lawsuit, filed in 2012 by Donald Allbaugh on behalf of himself and 286 class members, alleged that the Defendants failed to properly compensate employees who chose to delay receiving their retirement benefits by continuing to work past normal retirement age.

On July 18, 2018, the federal judge presiding over the case in the United States District Court for the District of Nevada granted final approval to the settlement agreement. Pursuant to the settlement, class members received recoveries based on their age, length of service, the amount of monthly benefits when they eventually retired, and the date of their retirement. The average recovery was either $54,878 or $34,603 depending on when each class member retired. The largest recovery for a single retiree class member was of $376,311.77.

Susan Martin and Jennifer Kroll of Martin & Bonnett were lead counsel in representing Mr. Allbaugh and the 286 ironworkers. In the Court’s order, it recognized the "complex issues" in the case and noted that Class Counsel has "extensive experience in ERISA litigation." The Court added that the case was "vigorously prosecuted" and that the amount of the settlement was "highly favorable."

Martin & Bonnett has been at the forefront of ERISA class action litigation for decades. We handle cases throughout the United States and have been featured in the New York Times, Wall Street Journal, and numerous other publications. We routinely litigate against high-profile, Fortune 500 companies and have achieved tens of millions of dollars in settlements for our clients.