Chamber of Commerce, AARP Spar Over Pension Standing

Sept. 22, 2016, 2:35 PM

The U.S. Chamber of Commerce and the AARP are jumping into the ongoing legal battle that asks when pension plan participants can sue over plan mismanagement (Thole v. U.S. Bank, N.A., 8th Cir., No. 16-01928, amicus brief filed 9/20/16).

The issue of constitutional standing has derailed a number of recent lawsuits by pension plan participants, with courts reasoning that the guaranteed nature of pension benefits means that participants aren’t injured by plan mismanagement unless it’s so severe as to threaten their benefits. In a brief filed Sept. 20, the chamber is cheering this trend and encouraging a federal ...

To read the full article log in.

Learn more about a Bloomberg Law Subscription.