Court Makes It Easier to Sue Over 401(k) Retirement Plans

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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Eric is a Producer at Lockton Insurance Brokers, Inc., the world’s largest privately held commercial broker. Eric has over 23 years of experience in the insurance industry and has spent the last 11 years with Lockton. Eric specializes in Health & Welfare Benefits, Retirement Planning, and Executive Benefits. Eric's clients utilize his expertise in the areas of Plan Due Diligence, Transaction Structure, Fiduciary Oversight, Investment Design, Compliance and Vendor negotiation to improve the operational & financial outcome for each client. The Benefit Blog is a place to share that expertise and industry news.
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