The CFO is individually named as defendant in this class action lawsuit for his choice of investment offerings in company’s 401(k) plan.
Contrast this story to other news of employees pressuring employers to add a range of non-traditional investments like real estate, partnerships, private company stock and cryptocurrency.
The risk to employers and employees is real. The practical and legal solutions are straightforward. Yet too many employers play dumb or ignore the law with regard to fiduciary duties for self-directed investment plans in a 401(k) or other defined benefit retirement plan. My practice, through Freedom Benefits, offers a streamlined and cost-effective approach for small businesses.