Last week, MarketWatch published a great article on the recent surge in company 401(k) retirement plan lawsuits.
This article does a very good job of summarizing exactly how a company 401(k) retirement plan is deficient. The main concerns are poor investment option, high costs, and poor fiduciary oversight.
The Department of Labor has taken a very slow and deliberate approach to updating company 401(k) retirement plan ERISA (Employee Retirement Security Act of 1974) regulations.
The reality is that there are too many company 401(k) retirement plan sponsors and providers that don’t follow the most important rules of fiduciary investment advice. And their individual company 401(k) retirement plan participants suffer the consequences.
If you really want to educate yourself on your company 401(k) retirement plan account, take the time to download a copy of this study from the Center for Retirement Research at Boston College.
Ric Lager
Laser & Company, Inc.
