DOL argues plaintiffs lack Article III standing in pension risk transfer case

True

Evidence from credible sources supports the statement as accurate. Learn more in Methodology.

Interesting: 0/0 • Support: 0/0Log in to vote

litigation

The amicus brief filed by the Department contains the argument that plaintiffs lack Article III standing for the stated reasons.

Source summary
The U.S. Department of Labor filed an amicus brief in Konya v. Lockheed Martin to clarify legal standards for pension risk transfers (PRTs), arguing that ERISA gives fiduciaries deference when they act with prudence and loyalty and that decisions to annuitize are a settlor function reserved for plan sponsors. The brief contends the plaintiffs lack Article III standing, warns that litigation-driven second-guessing could impede employers from derisking, and represents the department’s first public position on PRTs since a surge of related class actions began in 2024.
Latest fact check

The U.S. Department of Labor’s official news release on its amicus brief in Konya v. Lockheed Martin states that the brief "explains the plaintiffs lack Article III standing to sue, because they have received all the benefits they are owed and there is no evidence whatsoever of impending default." This directly matches the claim that the Department argued plaintiffs lack Article III standing because they have received the benefits owed and there is no evidence of impending default. Independent coverage by PLANADVISER likewise reports that DOL argued plaintiffs lack Article III standing because they have received all benefits owed and do not allege any certainly impending default. Therefore, the statement is True because multiple credible sources, including the Department’s own release, confirm that the brief’s Article III argument rests on these precise grounds.

Timeline

  1. Update · Jan 10, 2026, 05:34 AMTrue
    The U.S. Department of Labor’s official news release on its amicus brief in Konya v. Lockheed Martin states that the brief "explains the plaintiffs lack Article III standing to sue, because they have received all the benefits they are owed and there is no evidence whatsoever of impending default." This directly matches the claim that the Department argued plaintiffs lack Article III standing because they have received the benefits owed and there is no evidence of impending default. Independent coverage by PLANADVISER likewise reports that DOL argued plaintiffs lack Article III standing because they have received all benefits owed and do not allege any certainly impending default. Therefore, the statement is True because multiple credible sources, including the Department’s own release, confirm that the brief’s Article III argument rests on these precise grounds.
  2. Original article · Jan 09, 2026

Comments

Only logged-in users can comment.
Loading…