Employee Benefits: U.S. Supreme Court Says Individuals Can Recover Damages for Mishandling of Retirement Accounts; Self-Protection Options for Employers
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 […]