Posted On:
February 23, 2008
Supreme Court Allows 401(k) Suits by Individuals - Probate Implications for MA?
The Supreme Court in LaRue v. DeWolff ruled than individuals (not only Plans themselves) may bring actions for breach of fiduciary duties in 401(k) plans. Mr. LaRue had argued his holdings decreased $150,000 when plan administrators did not heed his requests to switch to safer investments. The question raised was whether the Employee Retirement Income Security Act (ERISA) allows account holders to sue plan administrators. With the answer now being "yes" estates may want to consider actions too. When warranted, it may be prudent for estate executors and administrators to investigate potential suits when a breach of fiduciary duty has occurred.
Bookmark: 
