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Supreme Court Hints at New Monitoring Rules for 401(k) Plan Investments
BloombergLink to more items from this source
Feb. 24, 2015
"U.S. Supreme Court justices suggested they will require 401(k) plans to periodically monitor the investment options they offer, in a case that may give investors more power to sue over excessive fees. Hearing arguments Tuesday in Washington, the justices indicated they will revive claims that Edison International's 401(k) plan should have shifted investors from the retail class shares of three funds into identical institutional class shares that carried lower fees. Several justices scoffed when Edison's lawyer argued that a switch of investments might have confused the workers who participate in the plan." [Tibble v. Edison International, No. 13-550 (9th Cir. Aug. 1, 2013; argued Feb. 24, 2015)]

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