Labor Department files amicus brief on pension risk transfers in Konya v. Lockheed Martin

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litigation

The Department of Labor filed and submitted an amicus brief in Konya v. Lockheed Martin and made the brief publicly available.

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 dated January 9, 2026, states that it filed an amicus brief in Konya v. Lockheed Martin, No. 25-2061. The release explains that the brief seeks to clarify the “proper constraints and liberties” when a business derisks by transferring its pension plan liabilities to an annuity provider, explicitly framing this as clarifying the legal framework for pension risk transfers. A repost of the same release and independent background on Konya v. Lockheed Martin confirm that the case centers on pension risk transfer transactions. The verdict is True because primary documentation from the Department of Labor confirms both the filing of the amicus brief in Konya v. Lockheed Martin and that its stated purpose is to clarify legal standards for pension risk transfers.

Timeline

  1. Update · Jan 10, 2026, 05:32 AMTrue
    The U.S. Department of Labor’s official news release dated January 9, 2026, states that it filed an amicus brief in Konya v. Lockheed Martin, No. 25-2061. The release explains that the brief seeks to clarify the “proper constraints and liberties” when a business derisks by transferring its pension plan liabilities to an annuity provider, explicitly framing this as clarifying the legal framework for pension risk transfers. A repost of the same release and independent background on Konya v. Lockheed Martin confirm that the case centers on pension risk transfer transactions. The verdict is True because primary documentation from the Department of Labor confirms both the filing of the amicus brief in Konya v. Lockheed Martin and that its stated purpose is to clarify legal standards for pension risk transfers.
  2. Original article · Jan 09, 2026

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