Supreme Court Allows 401(k) Plan Participant to Sue For Reduction In Account Caused by Alleged Fiduciary Breach
On February 20, 2008, the United States Supreme Court decided the case of LaRue v DeWolff, Boberg & Associates, Inc., unanimously holding that individual participants in defined contribution plans regulated by ERISA (the Employee Retirement Income Security Act of 1974) can sue their plan administrator for a breach of fiduciary duty that reduces the value of their individual account.
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