The Trump administration joined the retirees in asking the court to take up the case. (Photo: Bloomberg)
(Bloomberg) –The U.S. Supreme Court agreed to consider giving workers who participate in pension plans more ability to sue when they believe the money is being mismanaged.
The justices will hear arguments in their next term from retired U.S. Bancorp employees who say their plan lost more than $1 billion during the 2008 market crash because the company invested all the plan's assets in high-risk equities.
The case affects workers in defined-benefit plans, in which retirees are entitled to a specific level of income and don't have individual accounts.
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