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

Richey, Warren
February 2008
Inside Tucson Business;2/25/2008, Vol. 17 Issue 38, p5
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.


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