401(k) Plans Face More Lawsuits, Regulation in 2007

Law360, New York (December 22, 2006, 12:00 AM EST) -- 2007 promises to be an eventful year for 401(k) plans. With new types of class action lawsuits against plan sponsors and managers appearing, experts expect Congress and regulatory bodies to examine how 401(k) plans and other retirement products are managed and who stands to profit most.

The end of 2006 saw a dramatic increase in class action suits brought against 401(k) plan sponsors for breach of fiduciary duties, and those cases show no sign of slowing in the new year.

Starting in the fall, plaintiffs law...
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