401k Best Route to Transocean Ltd

datePosted on 21:12, May 28th, 2010 by lee

Anyone that lives on or routinely travels to the gulf will appreciate the difference between a fiduciary and someone that is selling stock in a company. Transocean is held to a different standard as a fiduciary. As a fiduciary one is held to the highest standard of care . If you owned a million dollars of trans. stock you would have no recource. If you made 10/hour and had a thousand dollars in your 401k it’s a different story. Does the distinction make sense? Why does the stockholder not have the same recourse as the 401k plan participant?

When you think about it makes sense. The plan participant is totally at the mercy of the sponsor. The sponsor takes money out of the participants paycheck and puts it into a trust holding assets the plan participant has no control of. The plan participant is purely at the mercy of the sponsor. A stock holder has a choice. He can research the history of the company. He can watch the news. He can see the devastation caused by a company and can make a conscience decision to sell the stock of a company that ruined so many lives and cuased irreparable harm to the seas and blackened our coasts. The participant of the 401k plan can only rely on the sponsor to exercise prudence or lack thereof.

http://www.marketwatch.com/story/law-offices-of-howard-g-smith-announces-investigation-on-behalf-of-current-and-former-employees-of-transocean-ltd-who-invested-in-the-companys-401k-savings-plans-2010-05-24?reflink=MW_news_stmp

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