Ex-Jeld-Wen workers sue over retirement payouts

Ex-Jeld-Wen workers sue over retirement payouts

Ex-Jeld-Wen workers sue over retirement payouts

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by Associated Press

kgw.com

Posted on February 1, 2013 at 1:57 PM

KLAMATH FALLS -- Three retired Jeld-Wen employees have filed a federal lawsuit alleging the door-and-window maker unlawfully cost them hundreds of thousands of dollars in retirement payouts.

The Klamath Falls Herald and News reports the plaintiffs filed suit Wednesday in Medford. It alleges the company violated federal law by amending the benefit payout structure of its Employee Stock Ownership Plan.

The suit states the men suffered a collective loss of value approaching $650,000.

The lawsuit was also filed in behalf of potentially hundreds of other employees who could be affected by the change.

Jeld-Wen representatives did not return phone and email messages seeking comment.

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