February 21, 2008

NY Times Declares Landmark 401(k) Win for Stris & Maher

In a case that will protect millions of Americans from having their trillions of dollars in retirement monies mismanaged, the Supreme Court ruled that individuals may bring ERISA claims against plan fiduciaries who fail to follow their investment instructions. The New York Times declared that case to be “one of the most important rulings in years on the meaning of the federal pension law known as ERISA,” and the Washington Post declared the result to be a “major victory” for those with retirement savings.

Coverage linked above:
Top Court Allows Suit Over 401(k) (The New York Times, February 21, 2008)
Supreme Court Rules Employees Can Sue Over 401(k) Misconduct (The Washington Post, February 21, 2008)