Lawsuits aimed at companies providing their employees with a 401(k) plan have increased five-fold in 2020. Companies large and small are seeing lawsuits from 401(k) plan participants questioning the prevalence of high fees and sub-standard investment options.
Read more in this recent Bloomberg Law article by Jaclyn Wille, which breaks down the reasons for the increase in lawsuits and what 401(k) plan sponsors should see in the future. If you are a small business owner (such as a small dental practice) and would like to learn about how you can significantly reduce your legal risk, feel free to contact me (Amanda Thurman, Rebalance’s VP of Retirement Services) for a discussion.
401(k) Fee Suits Flood Courts, Set for Fivefold Jump in 2020
by Jacklyn Wille
This article was originally published in Bloomberg Law.