Pensions & Investments covered the January 13 U.S. Supreme Court hearing Thole v. U.S. Bank N.A., where Joe Palmore argued for the bank in an ERISA suit over a $750 million pension plan loss.
The recap discusses Joe’s key points in his argument, including that to have legal standing, the plaintiffs must demonstrate injury, which they cannot do. He also noted that no matter what the case decides, the participants who initially filed suit will continue to receive the same monthly benefits payments, so no harm has come to them. If their benefits were tied to the value of the trust, “they’d have standing, but these are fixed payments,” Joe argued.
Read the full coverage.