The U.S. Supreme Court will consider giving 401(k) participants more power to sue their plans over investments that impose excessive fees, accepting an appeal tied to a wave of suits against employers.
By Greg Stohr|October 03, 2014 at 04:36 AM
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Oct. 2 (Bloomberg) — The U.S. Supreme Court will consider giving 401(k) participants more power to sue their plans over investments that impose excessive fees, accepting an appeal tied to a wave of suits against employers.
The appeal, filed by Edison International workers, contends that participants should be able to sue plans for retaining imprudent investments. A federal appeals court said a federal statute of limitations bars suits over investments added to a plan more than six years earlier.
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