U.S. Bank Pension Case Gets Supreme Court Review (1)

The U.S. Supreme Court will decide whether pension plan participants’ ability to sue over alleged plan mismanagement varies based on how well the plan is funded.

The justices agreed June 28 to review the matter in a lawsuit pension plan participants brought against U.S. Bank after it allegedly lost more than $1 billion in pension assets through risky investments.

The dispute marks the third case brought under the Employee Retirement Income Security Act that the Supreme Court has agreed to hear next term. ERISA is complex, but it is also extremely important because it sets standards for most retirement and ...