How The US Supreme Court Is Helping Your Retirement Savings
ByIn two recent cases the US Supreme Court has ruled on issues of employee investments that may improve investment options for employees. This month, inTibble vs. Edison International the Court wrote an important opinion that is it not sufficient for employers to just set up a 401(k) with a reasonable set of investment options for employees, they must also continue to monitor the plan for any changes.
Separately, in June 2014 in Fifth Third Bancorp v. Dudenhoeffer the court found that Employee Stock Ownership Plans (ESOPs) were also subject to the Employee Retirement Income Security Act ERISA standard, and employers must make sure that stock offered in the plan is a good investment for employees. In both cases, the verdict of the court was unanimous. Basically, the Court is making clear that companies must keep employees’ best interests at heart when providing financial options. This is good news for investors…
How The US Supreme Court Is Helping Your Retirement Savings
