I have heard bits on this subject.. Does someone have EXPERT insight to how this might affect us.
"Yesterday’s U.S. Supreme Court ruling allowing individual 401(k) account holders to sue plan administrators may cause some angst among advisors.
At issue in the case was whether individuals (as opposed to a particular 401(k) plans’ account holders as a class) could sue plan administrators for mismanagement of their accounts. Two lower courts had previously ruled that plan participant James LaRue, the plaintiff in the case, could not do sue his plan administrator even though the plan administrator had breached its fiduciary duty. But yesterday, the U.S. Supreme Court gave LaRue (and by extension, some 50 million U.S. workers who have invested upwards of $2.7 trillion in 401(k) retirement plans) the right to do so."
Thanks, Miss J