On Air Now

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 1450 AM Holland, MI

Weather

Current Conditions(Holland,MI 49422)

More Weather »
76° Feels Like: 76°
Wind: SW 7 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Clear 63°

Tomorrow

Sunny 80°

Wed Night

Clear 66°

Alerts

General Motors employees can sue in 401k case

by
The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Michigan August 25, 2009. REUTERS/Jeff Kowals
The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Michigan August 25, 2009. REUTERS/Jeff Kowals

WASHINGTON (WKZO) -- By doing nothing, the Supreme Court has given GM employees a victory in a dispute over the management of 401K retirement plans.

The high court let stand a lower court ruling which allows GM employees to sue State Street Bank and Trust over losses to their 401K plans.  The suit was filed in 2009.

State Street argued that the investment firm should be shielded from liability in 401K losses since GM had filed for Chapter 11 protection from creditors.

Comments