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Home / Opinion Digests / Employment Law / Allowing single-stock fund in 401(k) plan might violate ERISA (access required)

Allowing single-stock fund in 401(k) plan might violate ERISA (access required)

Allegations that a 401(k) plan sponsor and management committee ignored an imprudent single-stock fund for several years was sufficient to support claims for breaches of the fiduciary duties of prudence and diversification imposed by the Employee Retirement Income Security Act of 1974. Background Christina Stegemann and Jeffrey Quatrone, participants in the Gannett Co. Inc. 401(k) savings plan, ...