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Justices make it easier to sue over 401(k) retirement plans
Posted: Mon May 18, 2015 11:06 am
by dbackjon
The Supreme Court ruled unanimously Monday in favor of participants in employee retirement plans who object to companies' investment decisions that eat into retirement savings.
The justices revived claims by current and former employees of energy company Edison International. The employees argued that the company chose mutual funds with excessive fees.
http://finance.yahoo.com/news/justices- ... 12015.html" onclick="window.open(this.href);return false;
Re: Justices make it easier to sue over 401(k) retirement pl
Posted: Mon May 18, 2015 11:11 am
by Ivytalk
Working on your class action complaint, dback?
Re: Justices make it easier to sue over 401(k) retirement pl
Posted: Mon May 18, 2015 11:14 am
by dbackjon
Ivytalk wrote:Working on your class action complaint, dback?
Sure
Re: Justices make it easier to sue over 401(k) retirement pl
Posted: Mon May 18, 2015 11:56 am
by AZGrizFan
dbackjon wrote:The Supreme Court ruled unanimously Monday in favor of participants in employee retirement plans who object to companies' investment decisions that eat into retirement savings.
The justices revived claims by current and former employees of energy company Edison International. The employees argued that the company chose mutual funds with excessive fees.
http://finance.yahoo.com/news/justices- ... 12015.html" onclick="window.open(this.href);return false;
Good GOD, the agonizing we do over that in our 401k Committee is pathetic. We auto-enroll people at 3% (which we match at 100%), and because of apathetic employee participation we've begun auto-escalating them up to the 6% matching cap. So, you match dollar for dollar up to 6% (which is a return of 100%, btw), and they want to bitch because one fund has a .5% management fee and the other one has a .75% management fee?
Fuck THEM. This shit goes to trial and watch employers pull the plug on matching funds altogether.
Retirement plans and healthcare. Two things that should NOT be associated with/determined by/managed by employers.
Re: Justices make it easier to sue over 401(k) retirement pl
Posted: Mon May 18, 2015 12:13 pm
by ALPHAGRIZ1
Yep, here....let us give you a 401k and then match the money you put into it.
NO!
Thats not good enough you should do more, after all it is YOUR business that I chose to work for.
Libs............
Re: Justices make it easier to sue over 401(k) retirement pl
Posted: Mon May 18, 2015 12:38 pm
by dbackjon
AZGrizFan wrote:dbackjon wrote:The Supreme Court ruled unanimously Monday in favor of participants in employee retirement plans who object to companies' investment decisions that eat into retirement savings.
The justices revived claims by current and former employees of energy company Edison International. The employees argued that the company chose mutual funds with excessive fees.
http://finance.yahoo.com/news/justices- ... 12015.html" onclick="window.open(this.href);return false;
Good GOD, the agonizing we do over that in our 401k Committee is pathetic. We auto-enroll people at 3% (which we match at 100%), and because of apathetic employee participation we've begun auto-escalating them up to the 6% matching cap. So, you match dollar for dollar up to 6% (which is a return of 100%, btw), and they want to bitch because one fund has a .5% management fee and the other one has a .75% management fee?
Fuck THEM. This shit goes to trial and watch employers pull the plug on matching funds altogether.
Retirement plans and healthcare. Two things that should NOT be associated with/determined by/managed by employers.
This was one of my thoughts - how many companies will say screw it?
And agree with your last sentiment