Pension Plan Members Argue Before Supreme Court About Right to Sue for Risky Investments

Pension Plan Members Argue Before Supreme Court About Right to Sue for Risky Investments
The United States Supreme Court building is seen in Washington on Dec. 24, 2018. Eric Baradat/AFP/Getty Images
Matthew Vadum
Updated:

WASHINGTON—Defined benefit plan participants should be allowed to sue plan administrators for fiduciary breaches even when the retirement plan is overfunded and participants have not lost money, a lawyer for participants told the Supreme Court.

A company retirement plan is said to be “overfunded” when its assets exceed its liabilities, allowing the surplus funds to be used to cover current and future retirements.