FYI: Even Wall Street workers are unhappy with how their retirement plans are run.
A participant in Morgan Stanley's 401(k) plan filed a lawsuit Friday in U.S. District Court in New York alleging that it offers investment options that have too-high fees and poor track records, including some mutual funds run by Morgan Stanley itself. The suit accuses the $8 billion plan of causing "hundreds of millions of dollars" in losses for its roughly 60,000 participants.
Morgan Stanley declined to comment on the lawsuit.
Regards,
Ted
http://bigstory.ap.org/article/5cb87dcf2c6b4d80960888abab1a7c2c/morgan-stanley-accused-mismanaging-its-401k-plan
