Savings & Pensions

Wall Street Journal - Ruling Allows Workers to Sue On 401(k) Losses

The U.S. Supreme Court unanimously upheld the right of workers to sue over losses in their 401(k) retirement-savings accounts in some circumstances, but pension-law experts said a minority opinion in the case could also bolster some defenses used by employers.

The ruling yesterday could affect dozens of retirement-plan lawsuits brought by workers against their employers. Retiree advocates praised the decision. "We're excited about it," says Rebecca Davis, a staff attorney with the Pension Rights Center, a retiree-advocacy group in Washington.