Welcome to the exciting world of ERISA! This blog is written by attorneys Kate MacKinnon and Sarah Demers at the Law Office of Katherine L. MacKinnon. Here, we'll talk about ERISA: updates on employee benefit law, information we hope people who have been denied benefits will find helpful, and any news or tidbits we think should be shared with the world.
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Monday, January 14, 2013
Pension Investing News - Ameriprise Suit
Check out this article about the pending lawsuit filed on behalf of Ameriprise employees regarding the investments in their 401(K) plans:
"In the suit, the Ameriprise 401(k) participants allege that the company breached its fiduciary duty under the Employee Retirement Income Security Act of 1974 by offering proprietary-fund options that allegedly were imprudent and unreasonably expensive, and that paid fees to the firm and its subsidiaries."