Tort Liability Reform Act of 1987

Tort Liability Reform Act of 1987 - Amends the Federal Rules of Civil Procedure to provide certain limitations and procedures with regard to tort actions seeking recovery for damages exceeding $10,000 against the United States.

Requires a pretrial hearing to be held within 30 to 60 days after the filing of an action. Directs the hearing official (special master) to: (1) evaluate the nature and the merit of the pending claim; (2) set a timetable for expediting the action; and (3) report to the court.

Requires that future damages awards exceeding $100,000 be made by periodic payments. Requires that damage awards be offset by any amount received as compensation for the same injury from other sources.

States that for any claim to which this Act applies: (1) a defendant may be jointly and severally liable for damages for economic losses; and (2) a defendant shall be liable only for that portion of an award for noneconomic losses for which he is individually responsible (unless the defendant acted deliberately to pursue a common plan or design with another person).

Allows any defendant held jointly and severally liable to bring an action for indemnity or contribution against any person with whom they are jointly liable.

Makes any attorney whose conduct is calculated for delay, or is found to be in bad faith, subject to pecuniary sanctions by the court.