Class Action Attorneys Blog

In the past five years, many employees' 401(k) plans have taken a hit along with the economy. So it would be expected that, especially during such times, employers would make sure that they choose 401(k) plans for their employees with options that maximize the returns on their investments, right? However, rather than ensuring the selection of a plan in which the fees and expenses charged to employees are minimized, some employers are instead simply choosing 401(k) plan advisors based on pre-existing relationships, incentives, and often just sheer indifference and then give the advisor carte blanche to select the employees' investment options. The problem is that plan/investment advisors are only selecting investment options because they are receiving kickbacks through revenue sharing from the mutual fund companies that have overly expensive funds that no reasonable - or honest - advisor would otherwise select for employees. The end result is that the plan advisors, and in some cases the employers as well, are receiving the benefits of the investments while the employees are stuck with the diminished returns of an investment portfolio with excessive fees and expenses.

Continue reading " Do You Know What You're Being Charged for Your 401(k)? " »

As an attorney, I frequently find myself working through my lunch or eating while I work. Generally, this is due to necessity because of deadlines approaching or because of a need to incessantly catch up on work from being out of the office for whatever reason. Unfortunately, too many people can probably relate to the feeling of being behind on work as well as my experience of working through lunch. An important difference to make, however, is that as an attorney, I am (1) paid on a salary basis for all of my hours worked and (2) rightfully classified as an exempt employee under the learned professional exemption of the Fair Labor Standards Act ("FLSA"). Therefore, it is okay if I work through my lunch because my salary is designed to compensate me for every minute that I work, even if it's during my lunch. For many many other jobs though, especially any job that you are paid an hourly wage, if you work through your lunch or eat at your desk while doing work - even paperwork - then you NEED to be compensated by your employer. It's the law!

Continue reading " Working Through Lunch? " »