Whether you are an employer offering 401k benefits or an employee receiving them---the following information is key for you to know:
From the New York times:
In February 20 of 2008, the Supreme Court unanimously upheld the right of participants in 401(k) retirement plans to sue in an attempt to recover losses if they think their accounts have been mishandled. The decision was a victory for James LaRue of Southlake, Tex., who contended that he lost $150,000 because the administrator of his retirement plan did not follow his instructions. By extension, the ruling opens the door for other 401(k) participants to bring suits......read on
LaRue Vs. DeWolff, Boberg & Associates, Inc.