PRC In the News
02/16/11|Institutional Investor

ERISA Class-Action Suits Shape U.S. Retirement Future

In the absence of a national retirement policy, litigators in the courts — not lawmakers — have played an outsize role in shaping America’s retirement future. Why? Participant-directed defined contribution plans, most often 401(k)s, did not exist as mainstream retirement schemes when ERISA was created.