The papers were all over it today… the Supreme Court’s ruling that will allow employees to sue their retirement plans. But what does this mean for the average person? It means that if the people who we have entrusted our 401(K) plans to are not responsible stewards of our dough, we now have the recourse to sue them. AARP filed a brief in support of the plaintiff in the case, calling the lack of ability to sue a barrier to retirement savings – I mean, who wants to trust their money to someone that is not really accountable.
Some say it will result in more lawsuits, but clearly it is a win for consumers at the highest level.
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