Archive for ‘November, 2009’

Don’t assume your clients know about the Larue case. In February 2008 the Supreme Court ruled an individual participant could sue the sponsor where in the past only a class of participants could sue.

Before Larue, Class action claims were typically limited to large employers because of the cost of initiating a class action claim. Mr. LaRue made it economical to sue even the smallest employer.

In our meetings with CFO’s we consistently see shock on their faces when they hear the Supreme Court ruled one employee can now sue as opposed to an entire class and the liability can be personal. As a fiduciary, the Cfo’s liability is only limited by his personal net worth. We repeatedly hear “They aren’t paying me enough!”

It is also worth noting that this case stemmed from an administrative issue as opposed to fiduciary.

“Recession drives HR outsourcing”

datePosted on 18:26, November 16th, 2009 by lee

Time really is money. Employers can’t afford to build what they can’t sell.

“The co-fiduciary spin”

datePosted on 12:08, November 16th, 2009 by lee

Follow Us on Twitter

datePosted on 14:35, November 13th, 2009 by Erik

You can now follow us on Twitter. Proceed to and search for “401kSAFE”. You’ll be able to receive automatic updates as we create new blog postings.

Caterpillar agreed to pay $16.5 million to settle a lawsuit…

datePosted on 20:08, November 12th, 2009 by lee

Caterpillar agreed to pay $16.5 million to settle a lawsuit that alleged its 401(k) plans charged its employees unreasonable and excessive fees. Click Here to view article

Fred Reish: It seems almost certain…

datePosted on 06:37, November 10th, 2009 by lee

Fred Reish:It seems almost certain that the next wave of litigation will be on issues related to costs, revenue sharing and investments, and that these cases will include claims against service providers. In addition, there will be an increasing number of lawsuits filed against mid-sized and smaller companies and their advisers and providers.