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Judges don’t bite on DB defense applying to DC in ERISA cases
Michael Reynolds/CNP
Justice Brett Kavanaugh wrote in the Thole decision that there is an important distinction between a defined benefit plan and a defined contribution plan.
Seeking to defeat ERISA complaints, some defined contribution sponsors are using a 13-month-old, pro-sponsor ruling by the U.S. Supreme Court that addressed defined benefits plans.
However, at the federal District Court level so far, most judges have rejected this DC legal defense, citing the Supreme Court s 5-4 ruling as making a distinction between DC and DB.
The key issue was whether DB participants had standing to sue if they weren t hurt by a sponsor s plan management. Because the DB plan was overfunded in the case of Thole et al. vs. U.S. Bank, NA, the Supreme Court said plaintiffs weren t harmed and thus lacked standing.