| On August 6, 2013, a class action lawsuit was filed in an effort to obtain relief for approximately 150,000 individuals who purchased certain Long Term Care Insurance policies through CalPERS. As this case moves forward, RESDC will continue to update our members with important developments and news in the litigation. April 2017 Update - Towers Watson, the actuarial firm responsible for setting CalPERS' premiums for the LTC Program in 1995, filed a Motion for Summary Judgment seeking the dismissal of plaintiffs' claims on the grounds that they were barred by the statute of limitations and that Towers Watson did not owe the plaintiffs a duty. However, before the hearing on that motion could take place, Towers Watson and Plaintiffs reached a preliminary settlement.
Under the terms of the settlement, Towers Watson will be paying $9.75 million to settle the claims against it. Importantly, this partial settlement only impacts the claims against Towers Watson and will not impact the claims asserted against CalPERS as the main defendant in this case. The case continues against CalPERS, which is set for trial in October of 2017. To read the complete update and access resources related to this class action, visit http://www.calpersclassactionlawsuit.com/litigation-update.html
| 
