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401(k) Participants Can Sue Under ERISA

WASHINGTON--Individual participants in 401(k) retirement plans can sue under ERISA to recover their losses, the Supreme Court ruled yesterday in a case that has created concern within the insurance ind

By Arthur D. Postal | Updated on February 21, 2008

WASHINGTON–Individual participants in 401(k) retirement plans can sue under ERISA to recover their losses, the Supreme Court ruled yesterday in a case that has created concern within the insurance industry.

In a unanimous ruling (LaRue vs. DeWolf), the court said the Employee Retirement Income Security Act does permit an individual account holder to sue plan administrators for breaching their fiduciary duties.

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