TITLE

Court rules 401(k) managers can be sued by employees

AUTHOR(S)
Richey, Warren
PUB. DATE
February 2008
SOURCE
Inside Tucson Business;2/25/2008, Vol. 17 Issue 38, p5
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the court rules with regards to 401(k) plans for American workers. The U.S. Supreme Court said that the Employee Retirement Income Security Act of 1974 (ERISA), authorizes retirees to sue the manager of their retirement plan if he fails to properly follow investment instructions. The principal duties of ERISA is to relate proper management towards ensuring the benefits.
ACCESSION #
31137843

 

Related Articles

  • The price of freedom runs high in 401(k)s. Studwick, Barry; Grant, Chris // Business Press;10/13/95, Vol. 8 Issue 24, p16 

    Reports on the factors that influenced small employers' moving away from 401(k) plans in the United States. Phenomenal growth of 401(k) plans; Effects of the changes in tax laws; Shifting the burden of saving and investing into the shoulders of employees; Comments from Peat Marwick employee...

  • Supreme Court considers right to sue under ERISA.  // Long Island Business News (7/1993 to 5/2009);12/7/2007, Vol. 54 Issue 64, p42A 

    The article reports on the examination of the right of employee to sue an administrator who failed to invest contributions under the Employee Retirement Income Security Act (ERISA), a federal law that provides guidelines for private pension plan and investment practices, by the U.S. Supreme...

  • Judiciary oversight.  // Pensions & Investments;5/26/2008, Vol. 36 Issue 11, p10 

    The article focuses on a ruling by U.S. Supreme Court in February 2008 clarifying the distinction between defined benefit (DB) and defined contribution (DC) plans. It mentions that the fiduciaries to 401(k) and other defined contribution plans will be accountable to a different set of standards...

  • WEALTH MANAGEMENT MEDIA SCAN.  // American Banker;12/5/2007, Vol. 172 Issue 233, p16 

    The article reports that the U.S. Supreme Court is considering a case that might affect the 401(k) and other defined-contribution retirement plans. The case concerns whether consumers can sue employers or third parties handling their 401(k) accounts. If the case is won, account holders will be...

  • TIME FOR PLAN B? Tice, Carol // Entrepreneur;Jun2008, Vol. 36 Issue 6, p56 

    The article focuses on the impact of the new ruling of the U.S. Supreme Court concerning the 401(k) plans in February 2008. Matthew Hutcheson, a professional independent fiduciary who advises retirement plan sponsors, states that the ruling will pose major changes in many savings account...

  • Court rules comp benefits exempt from garnishment.  // Business Insurance;9/13/2004, Vol. 38 Issue 37, p10 

    This article presents information related to court rules about compensation benefits. The Supreme Court of Oklahoma has ruled that workers compensation benefits due to an injured worker were entirely exempt from garnishment by a creditor. An employer Donald D. Laubach sustained two injuries...

  • RULING COULD SPUR FLOOD OF LAWSUITS FOR 401(k) SPONSORS. Marquez, Jessica // Workforce Management;3/3/2008, Vol. 87 Issue 4, p7 

    The article reports that a recent U.S. Supreme Court ruling has made the lives of 401(k) plan administrators a lot more difficult when the high court unanimously ruled February 20, 2008 that individual participants in a 401(k) plan can sue their employers over losses, a move many said could...

  • The Private-Sector Retirement Problem. Lemov, Penelope // Governing;Aug2012, p66 

    The article focuses on the lack of retirement plan coverage for the private sector in California. It states that those with 401(k) plans saw their savings slip away due to the recession. It says that the older workers near retirement lost 25 percent of their accounts. It adds that the access to...

  • Your retirement, your estate. Daugherty, Greg // Consumer Reports Money Adviser;Mar2009, Vol. 6 Issue 3, p15 

    The article offers information on where the money in several retirement plan goes if the retiree dies. Beneficiaries receive the money in traditional defined-benefit pension plans. Designated beneficiaries also receive pension plans, 401(k) and other defined-contribution plans. With individual...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics