homeWelcome, sign in or click here to subscribe.login
     


 

 

Money


Subscriber content preview

August 22, 2016

Now Morgan Stanley accused of mismanaging its 401(k) plan

  • The suit accuses the $8 billion plan of causing “hundreds of millions of dollars” in losses for its roughly 60,000 participants.
    • By STAN CHOE
    AP Business Writer

    NEW YORK — Even Wall Street workers are unhappy with how their retirement plans are run.

    A participant in Morgan Stanley's 401(k) plan filed a lawsuit Friday in U.S. District Court in New York alleging that it offers investment options that have too-high fees and poor track records, including some mutual funds run by Morgan Stanley itself. The suit accuses the $8 billion plan of causing “hundreds of millions of dollars” in losses for its roughly 60,000 participants.


     
    . . .


    To read this story in full login or purchase a subscription.



    
    Email or user name:
    Password:
     
    Forgot password? Click here.