While I can appreciate the complications this may cause 401K administrators, if they are not following requests, it's not the fault of the worker. Is it so wrong to ask for administrators to act according to the demands of the 401K owner? If someone has to seek a court order (as was suggested) to force action, there just might be an issue here.
The Supreme Court struggled with the changed world of retirement plans Monday, trying to decide whether a worker has a right to sue to recover losses when his instructions on where to invest his retirement money are disregarded.
The justices debated the case of James LaRue, who says he lost $150,000 in a market downturn when administrators at his 401(k) retirement plan twice failed to carry out his requests to sell stocks and move his money into safer investments.
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