Poof! A new Supreme Court ruling means your 401(k) may be gone…
A recent Supreme Court ruling may wipe out your retirement plan…
MarketWatch reports in Tibble v. Edison International, the court decided employees must have access to retirement plans—like 401(k) programs—with the best fee structures.
But it may mean workers at small companies will lose their 401(k)s altogether.
Small businesses have limited resources. That’s why they tend to go with plans with higher fees for employees. These are the only ones they can afford.
The ruling means workers can now sue employers for not selecting plans with the lowest fees. As a result, small businesses may nix 401(k) plans altogether. They don’t want to risk employee lawsuits. Those that don’t drop them may offer even fewer options than before.
At PBRG, we’ve received a lot of feedback regarding retirement plans: 401(k)s, Individual Retirement Accounts (IRAs), Roth IRAs, Keogh Plans, Health Savings Accounts (HSAs), and others. We know you need help maximizing your retirement plan options.
That’s why we’ve begun working on a new special report designed to help you navigate this complex, confusing space.
In the meantime, consider reading The Smartest 401(k) Book You’ll Ever Read. It may help you unlock the potential of these accounts in ways you’d never thought possible.