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Supreme Court Rules DB Plan Members Can't Sue Fiduciaries If Payments Unaffected
Holland & Knight 
June 10, 2020 "The Thole opinion underscores the tension between ERISA's purpose to protect the rights of beneficiaries from plan mismanagement and fiduciary misconduct, and the notion that ERISA plans are largely contractual in nature even if governed by federal statute. The former view, held by the dissent, would find that plan participants may suffer a cognizable injury when a plan is mismanaged even if they do not personally suffer a monetary loss, as fiduciary misconduct could cause tens of millions of plan participants to suffer losses. The majority view, however, focuses more narrowly on monetary injury and limits participants' rights in this case to their pension benefits." [Thole v. U.S. Bank N.A., No. 17-1712 (S. Ct. Jun. 1, 2020)] |
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