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Hercules Inc. Must Recalculate Retirement Benefits: Judge

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At a glance:

A judge has ordered chemical company Hercules Inc. to recalculate retirement benefits for some retired pensioners. 
 
This is part of a class-action lawsuit against the company by retirees who claim it illegally changed the interest rate used in some calculations of lump sum payment benefits owed. 
 
The remainder of the lawsuit has yet to be tried.

Hercules ordered to revise payments

The News Journal - 5/26/2006 3:44 AM

Hercules Inc. could be required to pay as much as $20 million in additional retirement benefits to some of its retirees and current workers as the result of a decision issued by a federal judge in Philadelphia.
 
In a pretrial ruling last month in the class action lawsuit against Hercules, U.S. District Judge John Fullam said the Wilmington-based chemical company must recalculate retirement benefits for workers who retired after Dec. 31, 2001, and opted to take part of their
 
benefits in a lump s
 
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