That’s what the U.S. Supreme Court said in a recent decision. The case involved, two retired participants who were receiving benefits alleged the fiduciary of the defined benefit (pension) plan breached their fiduciary duties by investing in their own mutual funds and charging excessive management fees. Because the retired participants were receiving the promised pensions, they lacked standing to sue for any loss.
Alert: Follow coronavirus-related federal tax changes for your business through the IRS.