Tag: 401(k)

ForUsAll Launches First Crypto Guidance Lawsuit Against DOL

The US Labor Department is being called to task in federal court for its recent strongly worded guidance advising 401(k) plans against cryptocurrency investments. San Francisco-based plan provider ForUsAll Inc. filed a lawsuit against the department Thursday, claiming regulators breached their statutory purview by threatening “an investigative program” aimed at plan sponsors that offer digital assets through their core plan…

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Fidelity to Allow Retirement Savers to Put Bitcoin in 401(k) Accounts – WSJ

Fidelity Investments plans to allow investors to put a bitcoin account in their 401(k)s, the first major retirement-plan provider to do so. Employees won’t be able to start adding cryptocurrencies to their nest eggs right away, but later this year, the 23,000 companies that use Fidelity to administer their retirement plans will have the option to put bitcoin on the…

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Can Employees Sue Over 401(k) Losses? Supreme Court to Decide – Law Blog – WSJ

The U.S. Supreme Court on Friday agreed to rule on when workers can sue their employer over losses to 401(k) funds containing shares of a company’s own stock. The high court agreed to hear an appeal brought by Cincinnati-based Fifth Third Bancorp. The financial firm is fighting a class-action lawsuit alleging it violated a federal law on employee- benefits by…

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