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The Conflict At The Heart Of U.S. Retirement Plans
FYI: Last week, yet another slew of private retirement plan managers became the target of class-action lawsuits. This time it was a bunch of universities: Yale University, New York University, the Massachusetts Institute of Technology and other schools have been sued for failing to properly oversee their employees’ retirement plans.
The lawyer behind the suits, Jerome Schlichter, has already hit companies for failing to administer their 401(k) plans responsibly; this latest wave of suits targets the so-called 403(b), a form of defined contribution plan used by non-profits like universities that closely resembles the 401(k). Regards, Ted http://wealthmanagement.com/print/retirement-planning/conflict-heart-us-retirement-plans
My question, how many millions in assets does the plan need before the lawyers come to call ? I noticed one 401-k I hold has been changing to lower cost shares of the same fund. Have a good day, Derf
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Have a good day, Derf