Split High Court:  Participants In Defined-Benefit Plans Lack Standing In Losses Suit

Mealey's (June 1, 2020, 12:25 PM EDT) -- WASHINGTON, D.C. — Two retired participants in a defined-benefit retirement plan who alleged that poor investment choices caused approximately $750 million in losses lack standing to bring suit under Article III of the U.S. Constitution as they have received their payments and any ruling would not impact their future payments, a U.S. Supreme Court majority ruled June 1 (James J. Thole, et al. v. U.S. Bank, N.A., et al., No. 17-1712, U.S. Sup., 2020 U.S. LEXIS 3030)....