Roger A. Hendron v. Huntington Ingalls Industries, Inc., et al, No. 19-cv-52 (E.D. Va.)

Welcome to the Hendron v. Huntington Ingalls Industries, Inc. settlement website. Class Counsel is maintaining this website to provide Class Members with information and access to the key documents about the proposed settlement of this class action (the “Settlement”) and the final approval hearing in the United States District Court that is set for May 9, 2022 at 9:30 a.m. The content of this website is the responsibility of Class Counsel and has not been approved by the Court.  

This website gives you access to the Settlement Agreement and other relevant documents, including the Notice that was approved by the Court. Please be sure to read the Settlement Agreement and the Class Notice for detailed information about the proposed Settlement, its effect on you, and your rights to participate in the final hearing.  

A Final Approval Hearing, before United States District Judge Roderick C. Young, has been scheduled to take place by video conference on May 9, 2022 at 9:30 a.m.   Any changes to the time or method of Final Approval Hearing will be posted here. You do not need to attend the Final Approval Hearing to receive your portion of the Settlement, but you may if you so choose.   

BACKGROUND

This class action lawsuit (“Action”) was brought on behalf of certain participants, beneficiaries, and surviving spouses receiving benefits under the “Legacy” part of the Huntington Ingalls Industries, Inc. Newport News Operations Pension Plan for Employees Covered by United Steelworkers Local 8888 Collective Bargaining Agreement (the “Covered Plan”).  Roger Herndon (“Plaintiff”) is the named plaintiff and Court-appointed representative of all members of the Class.  

On May 20, 2019, Plaintiff sued HII and the administrator of the Covered Plan (“Defendants”) under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).  Plaintiff challenged the actuarial assumptions and factors used by the Covered Plan to convert single-life annuity (“SLA”) benefits into alternative forms of payment, including joint and survivor annuity (“JSA”).  In particular, Plaintiff alleged that the assumptions and factors used by the Covered Plan to convert SLAs into alternative forms of payment are outdated and do not provide participants with “actuarially equivalent” benefits, as required by law.  Plaintiff asserted that the Covered Plan should instead have calculated benefits using different actuarial assumptions. After several years of litigation, the parties began a mediation and negotiation process that led to the Settlement in its current proposed form. On January 31, 2022, the Honorable Roderick C. Young granted preliminary approval of the Settlement and ordered notice of a final approval hearing to be given to all Class members.   

THE CLASS

You are in the Class if you are:  

a Participant or Beneficiary of the “Legacy” Part of the Huntington Ingalls Industries, Inc., Newport News Operations Pension Plan for Employees Covered by United Steelworkers Local 8888 Collective Bargaining Agreement who began receiving pension benefits in the form of a joint and survivor annuity during the period from May 20, 2013, through January 17, 2020.

The Class does not include any Participants or Beneficiaries who begin receiving benefits after January 17, 2020.     

WHAT’S IN THE SETTLEMENT?

The proposed Settlement provides that the Plan will pay the $2.8 million value of the Settlement, net of amounts awarded for Attorneys’ Fees, Expenses and Costs, in the form of a Monthly Benefit Increase to be paid during the lifetimes of the Class Member participants and their designated beneficiaries.  Class members’ share of the Net Settlement Value will be based on the value of individuals’ past and projected future benefits, compared to the value of all Class Members’ past and projected future benefits.  Individual shares will then be annuitized and paid out over the lifetime of the participant (and, where applicable, over the lifetime of your designated beneficiary).    

Class Members will release Defendants from Defendants and their Related Parties from any and all Claims arising on or before January 17, 2020 that were brought, or could have been brought, arising out of, or relating to, the allegations in the Complaint.    

Although each Class Member will be entitled a Monthly Benefit Increase for pension payments effective as of January 1, 2022, Class Members will not begin receiving any additional benefit under the Settlement until several months after the Settlement becomes Final.  The first monthly payment that reflects any additional benefit will include a lump sum amount for the amount of any increase from January 1, 2021 to the date of that first increased payment.  More information can be found in the Class Notice.  

CAN YOU OPT OUT?

If the Settlement is approved at the final approval hearing on May 9, 2022, it will be binding on you. Class Members cannot opt out of this Settlement.   

Class Members can object to this Settlement by filing an objection by April 11, 2022.  More information can be found in the Class Notice.     

CLASS COUNSEL

The law firms of Izard, Kindall & Raabe, LLP and Bailey & Glasser LLP have been appointed as Settlement Class Counsel by the Court to represent the Named Plaintiff and the Settlement Class.  

You will not be charged directly by these lawyers. If you want to be represented by your own lawyer, you may hire one at your own expense.  

Class Counsel will apply for an award of attorneys’ fees and expenses, and a client contribution award for the Lead Plaintiff. To the extent awarded by the Court, these amounts shall come out of, and reduce, the total present value of the Settlement payable to Class Members. Please refer to the Settlement Agreement and the Class Notice for more information about the proposed awards and your right to object. 

CONTACT

If you are a Class Member and you have questions regarding the Settlement, please contact Class Counsel:  Izard, Kindall & Raabe, LLP, (860) 493-6292, or email, o.faircloth@ikrlaw.com, or visit https://hiierisasettlement.com/     

PLEASE DO NOT CONTACT THE COURT WITH QUESTIONS REGARDING THE SETTLEMENT. THE COURT PERSONNEL WILL NOT BE ABLE TO ANSWER YOUR QUESTIONS.