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: FindLaw's Common LawEmployees May Sue Over 401(k) Mismanagement
By FindLaw Staff
Employees may file individual lawsuits against their employers over the mismanagement of 401(k) retirement investment plans, the U.S. Supreme Court ruled on Wednesday. In a unanimous decision, the Court determined that the Employee Retirement Income Security Act of 1974 (ERISA) authorizes "recovery for fiduciary breaches that impair the value of plan assets in a participant's individual account" -- not just suits for actions that affect the entire plan. The Washington Post reports that over 50 million employees have almost $3 trillion invested in 401(k) plans.
- Read the U.S. Supreme Court Decision (FindLaw)
- Washington Post: Supreme Court Rules Employees Can Sue Over 401(k) Misconduct
- A Look at 401(k) Plans for Employees (FindLaw)
- Retirement Plan FAQ (FindLaw)
Full post as published by FindLaw's Common Law on February 22, 2008 (boomark / email).
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Employers must check references, criminal records, other background material.
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Dollar Tree Stores Hourly Employees Bring Class Action
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Wal-Mart
Must Pay $6.5 Million to Employees

State audit finds overtime problems
More Must Be Done to Begin to Reverse the Economic Mismanagement of the Past Seven Years
401-K plan mismanagement ripe area for consumer lawsuits
American Indian trust mismanagement case goes to trial
Federal judge promises to set dollar figure on US mismanagement of Indian trust
New Whistleblower Law Provides Protection for Defense Contractor Employees







