The U.S. Supreme Court today decided that employees are not entitled to a share of an employer's pension plan surplus, even if that surplus is generated from workers' contributions. The ruling, in Hughes Aircraft Co. vs. Jacobson, was unanimous.
``The opinion brings the law back to what everyone thought it was,'' said Christopher Landau, partner in the law firm of Kirkland & Ellis, which represented Hughes. He said the U.S. Court of Appeals for the 9th Circuit ``had thrown a monkey wrench in the area of pension benefits, and the Supreme Court returned certainty to this area.''
Kent Cprek, partner in the law firm of Sagot, Jennings & Sigmond, a lawyer for the plan participants, said he had not seen the opinion and could not comment.