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Will the Protecting Workers Benefits Act Restore Retirement Lawsuits?
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Key points
- Representative Bobby Scott introduced the Protecting Workers’ Benefits Act of 2026 to amend ERISA.
- The bill allows pension plan participants to sue fiduciaries for mismanagement on behalf of their plans.
- The legislation directly responds to a 2020 Supreme Court ruling that limited worker standing in retirement lawsuits.
NewsWK — On September 29, 2026, lawmakers introduced a new bill to change how citizens protect their retirement assets. Representative Robert C. “Bobby” Scott sponsored the legislation to help workers hold plan managers accountable.
What is the Bobby Scott Protecting Workers Benefits Act?
The Bobby Scott Protecting Workers Benefits Act, filed as HR 10703, amends the Employee Retirement Income Security Act of 1974. Specifically, this proposed ERISA amendment retirement plans update allows workers to sue over plan mismanagement. In doing so, it restores legal options that a Previous Supreme Court ruling restricted.
The bill specifically targets fiduciary accountability. Currently, under these rules, workers often face high hurdles when trying to stop pension fund mismanagement. This legislation relies on Article I, Section 8 of the United States Constitution for its authority. The House Committee on Education and the Workforce currently holds the bill for review.
How does HR 10703 change current law?
HR 10703 changes existing law by giving plan participants the right to act as assignees. For example, if managers mismanage a defined benefit plan, workers can sue on behalf of the plan. Ultimately, this system operates similarly to whistleblower actions under the False Claims Act.
Why is the Thole v US Bank standing lawsuit significant?
The Thole v US Bank standing lawsuit in 2020 limited worker lawsuits. The Supreme Court ruled that participants in defined benefit retirement plans lacked standing to sue unless they suffered direct, individual financial losses. Consequently, this ERISA amendment retirement plans bill seeks to bypass that judicial restriction.
The bill includes several key elements:
- Amends the Employee Retirement Income Security Act of 1974.
- Allows participants to sue as assignees.
- Strengthens accountability for plan fiduciaries.
This article was produced with the assistance of AI and reviewed by our editorial team.
Sources
Related: Protecting Our Widows and Widowers in Retirement Act Introduced in Congress
Related: Will the Employee and Retiree Access to Justice Act Protect Your Retirement Benefits?
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