401(k) Investment Management Litigation
401(k) savings plans allow employees to make tax-advantaged retirement investments through employer-sponsored programs. A certain percentage of the paycheck is put in the 401(k) during each period, often with a matching percentage contributed by the employer. In theory, 401(k) plans encourage employees to save a portion of their paychecks while offering tax benefits to both employees and employers. Unfortunately, actions by plan sponsors and fund servicers often deprive investors of their rightful retirement savings.
Schneider Wallace Cottrell Konecky Wotkyns LLP has more than two and one-half decades of experience in litigating sophisticated claims in jurisdictions throughout the country. Our firm handles complex class action lawsuits against 401(k) plan sponsors and corporations that do not follow the strict regulations governing 401(k) plans. Our attorneys appear in in federal and state courts to recoup fund losses. We understand the markets and what type of conduct is appropriate for retirement investments and the duties of employers, services, and brokers to protect 401(k) investors’ interests.
The plan managers have a fiduciary duty to act in the plan participants’ best interests. As a retirement plan, this includes making safe investments that build revenue over time. The idea is that the participant can count on the money being available when she or he retires.
Investing in non-investment grade or junk bonds would put the pension’s funds at unreasonable risk, as would failing to react to credit downgrades or understanding the implications of trouble in the investment assets.
Consult with Experienced Legal Counsel About 401(k) Investment Management Litigation
Schneider Wallace represents employees who have lost retirement savings because of fraud. We also assist businesses that have been charged excessive bank fees for 401(k) management and trading and advise about risk-mitigation solutions. For more information, consult with our attorneys, conveniently located in Houston, San Francisco or Scottsdale, and who litigate claims in jurisdictions throughout the country.