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Retired Steel Workers Win Pension Benefits Class Action for $51 Million

Retired AK Steel workers finally won their eight-year old pension benefits class action and got some money last week. The settlement totalled $51 million and will be distributed among 1000 retirees.

The suit alleged that the company had miscalculated the employees lump sum payments. The plaintiffs won their case in 2006, but it then went to appeals court, where the decision was upheld.

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Last updated on Nov-30-09