Jesus Ramirez & Kathy Rocha
In today’s modern world we all will have to someday get retirement plans in order to survive when we have to stop. But these high fees are causing workers to sue the company they work for. The “federal retirement law, which says retirement funds should be operated in trust and with “prudence” for the “exclusive” benefit of the employees”(Ny Times). The supreme court’s decision gave employers a notice that states they can get sued for the extra fees.
One company that has been recently sued is Edison. For having high fees in their 401(k) plan. The supreme court also ruled that the employer’s has to monitor the funds and make sure workers have prudent investments. The supreme court has not fully resolved the problem but they have made revenue to eliminate the limitations that did not apply to the workers because it’s employer’s job to protect their workers.