5/22/2015 – What the Supreme Court’s fixes for retirement savings may do to your 401(k) (MarketWatch)

The U.S. Supreme Court prescribed some fixes to the retirement-savings world this week, but the long-term side effects could have some workers thinking they’ve been given bad medicine. The high court ruled unanimously in favor of current and former workers at Edison, a California-based utility, who claimed that the retail-class mutual funds selected as investment options by plan fiduciaries were imprudent because they charged higher fees than identical institutional-class funds available to larger investors.

Plan sponsors now have an ongoing responsibility to monitor a plan and to make sure that if something better comes along — an improved fee structure, lower-cost alternatives and more — the plan keeps up with the times. Workers now can more easily sue employers whose plans are not managed with the employee’s best interest placed first.

Read the full article at MarketWatch.