Justices Told US Bank's Take On Pensions Is 'Backwards'

Law360 (December 13, 2019, 3:05 PM EST) -- U.S. Bank retirees have urged the U.S. Supreme Court to overturn a lower court decision that would curb lawsuits against corporate pension plans, arguing that U.S. Bank's claim that workers can't file fiduciary-breach cases against fully funded pension plans is "just as backwards as it sounds."

Retirees attempting to hold the bank liable for $750 million in losses to its pension plan told the high court Thursday that the bank's claim the retirees have "no stake in this litigation" because they aren't at risk of losing their benefits flies in the face of the Employee Retirement Income Security Act.

Congress never...

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