Implications Of LaRue For 401(k) Plan Participants

Law360, New York (February 26, 2008, 12:00 AM EST) -- In what is being hailed as good news for 401(k) plan participants, the Supreme Court has ruled that individual participants may sue to recover losses in their 401(k) plan accounts. This decision affects more than 50 million workers with trillions of dollars invested in 401(k) plans.

On Feb. 20, 2008, the Supreme Court ruled unanimously that an individual participant in a 401(k) plan may recover damages as a result of a plan administrator’s breach of fiduciary duty, even if the breach affects only the individual’s 401(k)...
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