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Employers must monitor 401(k) fees, Supreme Court rules
Employers must monitor 401(k) fees, Supreme Court rules

In a move that could brighten retirement prospects for millions of Americans, the U.S. Supreme Court ruled that employers have a duty to keep watch over 401(k) plans to guard against high management fees that can erode retirement savings. A unanimous high court said Monday that employers can be sued if they fail in their "continuing duty to monitor" mutual funds in 401(k) accounts for unnecessarily high fees, potentially shaking up the $5.8-trillion market for administering the plans. The decision involving Edison International in Rosemead surprised analysts both for its sweep and the agreement of the frequently fractured court. The ruling effectively shifts the burden in...

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