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I’ve read about the new 401(k) Supreme Court case. How far back can employees sue us if they claim we mishandled their retirement accounts? And how can we protect ourselves now for something that might have already happened? — Anonymous
In an important new development, the U.S. Supreme Court has unanimously ruled that when fiduciary misconduct diminishes the value of an individual account in a defined contribution plan, such as a 401(k), the harmed employee can sue for damages. In the past, courts have taken the contrary position that the federal employee benefits law only […]
The U.S. Supreme Court has handed down an important new ruling that could open the floodgates for claims by employees charging that their employers mishandled retirement accounts. The new case involved James LaRue, who filed a lawsuit under ERISA—the federal law that governs employee benefits—claiming that his employer’s failure to follow his investment directions under […]