As seen on WorkForce.com:

The Supreme Court ruling expands the rights of employees to sue their employers for failing to be diligent in the monitoring of their retirement plans — CJM Wealth Management CEO Charles Massimo weighs in:

“401(k)s are a huge profit center for Wall Street, which has never had to justify its fees. While, the Department of Labor’s fee disclosure rule of July 16, 2011, was an important first step in the right direction toward fee disclosure and transparency, the court’s decision now makes it very clear to plan sponsors that they have an ongoing duty of prudence to monitor these plans or else face the risk of liability that can stretch beyond the six-year statute of limitations.”

 

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