National AP News | WCTV Eyewitness News: Tallahassee, Thomasville, Valdosta

Supreme Court Considering Lawsuit Involving Retirement Money

SUPREME COURT (AP) _ The Supreme Court is set to hear arguments
Monday in a case involving workers who make suggestions on how
they want their retirement-plan money invested.

The case centers on James LaRue. He says he lost $150,000 when
his employer ignored his instructions on where to invest his
retirement-plan funds. The High Court will decide whether a federal
pension-protection law gives LaRue the right to sue to recover his
losses.

The case could have far-reaching effects. Two trillion dollars
are invested in 401(k) plans, which are different from traditional
pension plans. Participants in 401(k) plans do not know how much
money they will receive in retirement. The income depends on how
well investments have performed.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WCTV 1801 Halstead Blvd. Tallahassee, FL 32309
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 11802636