Thomas Parisi, a former American Airlines employee, has filed a proposed class action lawsuit in Illinois federal court, alleging that the airline violated ERISA by using outdated mortality data and interest rates to calculate retirees’ pension payments. Parisi claims that American Airlines relies on mortality tables from the 1970s instead of contemporary U.S. Treasury Department data, resulting in lower joint and survivor annuity benefits for retirees. The lawsuit alleges that this practice has cost retirees millions of dollars in retirement benefits.
Parisi seeks to represent a class of participants and beneficiaries who started receiving benefits after October 1, 2018, potentially including thousands of employees. The complaint asks the court to order American Airlines to recalculate benefits, repay withheld funds, and prevent future ERISA outdated mortality data violations. Siri & Glimstad LLP is representing Parisi, with attorneys Kyle D. McLean, Oren Faircloth, and David J. DiSabato named as counsel. The firm is working alongside attorneys from Izard Kindall & Raabe LLP and Motley Rice LLC.