401 fees and Lawsuits

[Guest BobParks]

Ernst and Young publishes a monthly letter now called "upshot." This month (http://199.50.26.12:80/upshot/sneakpeek.asp) they speak to the issue of plan fees and employer's potential liability to their employees.

E&Y said "finally, the Labor Department recently issued a warning to plan participants about excessive 401(k) plan fees and expenses. Burdening plan participants with above-average fees could leave an employer facing not only employee displeasure, but also legal action."