Terminated Pension Fund Bailout Bid Denied Supreme Court Look

The US Supreme Court declined to review whether the trustees of a union pension fund can reinstate their application for a $130 million bailout from a Covid-19 era government program.

The justices on Monday denied a petition filed by the Pension Benefit Guaranty Corp., which said the US Court of Appeals for the Second Circuit misread statutory text in the course of reinstating a pension fund’s bailout application. If that decision stands, the federal government could be forced to pay hundreds of millions of dollars that Congress didn’t intend, the PBGC said.

Justice Brett Kavanaugh would have granted the petition, ...