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With Americans spending more time at home due to Covid-19-related lockdowns this past year, they weren’t just busy perfecting their sourdough recipes and TikTok dance videos. It seems they also had time to dig into their 401(k) plans, and many didn’t like what they saw. 2020 was a bumper year for litigation under the Employee Retirement Income Security Act (ERISA), the statute that governs 401(k)s and other retirement plans.

According to the Groom Law Group, a law firm based in Washington, D.C. that defends employers, there were more than 200 ERISA class actions filed this past calendar year, an all-time high. It was an 80% increase over 2019 and more than double the number of 2018.

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