via USA Today
The Supreme Court today made it possible for workers saving for retirement to sue their 401(k) plans for offering investments with excessive fees.
The court ruled unanimously in favor of current and former workers of Edison International, a public utility holding company based in Rosemead, Calif., who claimed that six retail-class mutual funds selected by plan fiduciaries as investment options were imprudent, because they charged higher fees than identical institutional-class funds that were allegedly available to large investors, such as the defendant Edison’s 401(k) plan, according to a brief by Marcia Wagner of the Wagner Law Group…
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