The Supreme Court appears likely to make it easier for participants in employee retirement plans to challenge companies' investment decisions that eat into retirement savings.
The justices heard arguments Tuesday in an appeal filed by current and former employees of energy company Edison International. They object to the way the company manages employees' 401(k) retirement accounts, including choosing mutual funds with excessive fees.
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The high court hearing comes amid heightened scrutiny of the management of Americans' retirement investments, including President Barack Obama's call on Monday for tougher standards for brokers who direct individual accounts.