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Supreme Court hands down decision in key 401(k) lawsuit
May 18, 2015
Advisers: Mind your recommended fund lineups, review plan sponsor contracts
The U.S. Supreme Court made its decision on a key 401(k) lawsuit Monday, and the takeaway for retirement plan advisers is a simple one: Keep a close eye on your recommended fund lineups and review your contracts with plan sponsors.
The retirement plan industry has been eagerly awaiting the outcome of Tibble v. Edison, a suit that was initially filed in 2007 and was among the first lawsuits brought by employees against their employers for fee-laden funds in the 401(k) plan.
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