Folks,
I got targeted with an ad from the law firm below. The ad asks if I contributed to a 401K and suggest it may have been mismanaged.
Franklin D. Azar & Associates, P.C.
https://choose.fdazar.com/staples-401k-class-action/
8 replies (most recent on top)
Does anyone know what there is to gain from being part of this class action?
I mean I only have 20 to 30k in my 401k, how much could the alleged mismanagement have cost me?
Yes, it’s based on your employment and not related to exit packages.
We have a good base thus far! Keep calling in!!!
Let’s make them pay!!
If I got laid off and received a severance package, does anyone on here know if I can participate in this possible class action?
Count me in!
Retirees should not suffer financial losses because Staples 401(k) Retirement Plans were mismanaged
https://choose.fdazar.com/staples-401k-class-action/g-4-lightbox.html
How Were Staples 401(k) Retirement Plans Mismanaged Since 2014?
The Plans’ participants paid higher recordkeeping fees than necessary, paid higher administrative fees, and were burdened by duplicative funds (including poorly performing funds) that resulted in higher fees and lower investment returns.
Participants / beneficiaries of Staples 401(k) Retirement Plans may be entitled to damages.
If earning $60K / year, extra fees of just 1% can cost you $170,000 or more over the course of your career
The total amount can mean future monthly retirement income will be reduced by up to 28%
That's the equivalent of one full month of income each year you're retired
Class Action...in motion?
The fees that they charge just to use the 401k are egregious and were not discussed before i started putting in money.
In a year i paid about fifty dollars in management fees alone, not to mention the fees the funds charge for investing. I was only putting in 2% which meant every three months at least on pay-in went to fees not my retirement. Ridiculous.