News Summary: Verizon retirees sue in pension case
LAWSUIT: Verizon retirees are suing the phone company because it's planning to transfer the responsibility of paying their pensions to an insurance company.
THE PLANS: Verizon Communications Inc. said last month that it would transfer $7.5 billion of its pension obligations, covering 41,000 management retirees, to Prudential Insurance. Verizon says the deal lowers the risk that its pension obligations will end up costing more than projected.
THE COMPLAINT: Members of the Association of BellTel Retirees worry that the move will give them weaker legal protections.
Business Photo Galleriesview all
- 13851OKC Thunder: Thunder trio praise fans before potential departures
- 13814Oklahoma State football: Todd Monken thinks Wes Lunt should've stayed in Stillwater
- 9624Oklahoma medical examiner reports cause of deaths in Grand Lake boat crash
- 7322Oklahoma football: Sooners get pair of commitments
- 7022Report: OSU blocking Wes Lunt from transferring to the SEC, Big 12 and Southern Miss
- 5771Soaring gasoline prices hurt Oklahoma City area retailers
- 5205Student shot dead during botched home invasion