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Who Gains from 401(k) Fee Lawsuits?
Bankrate 
Oct. 8, 2013 "It's ironic that employees of large companies are suing their employers, because large companies tend to offer the cheapest plans ... So in the International Paper settlement, is $30 million enough to make restitution? If [the plaintiff's attorney] gets 30 percent, that's a $9 million payday for him and his firm. If the balance were to get evenly distributed among 70,000 401(k) participants (which is not how it will be apportioned), each of the participants would get $300 in their account. It's not a big payday for plan participants, that's for sure." MORE >> |
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