Benefits & ERISA Law

Surprisingly, the Stock Market Decline is Leading to Litigation . . .

You know what a dog bites man story is, right? Well, here's one, though a well-written one. This piece on CFO.com surveys the collateral damage from the Wall Street collapse, with a focus on its severe impact on 401(k) plans and the corresponding increase in fiduciary duty litigation. It is a well done piece that is worth a read, though nothing in it will come as a surprise to anyone familiar with the subject.  The take away?  The collapse in 401(k) values, combined with the extinction of pensions, will lead to "lawsuits, new regulations, and the specter of an aging workforce that, like a bad party guest, shows no inclination to leave."  I have to admit, I do like that last analogy.

Full post as published by Boston ERISA Law Blog on April 07, 2009 (boomark / email).