Amanda Antell  |  April 23, 2015

Category: Labor & Employment

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mcdonalds-401k-problemsMcDonald’s has been at the center of a class action investigation into whether or not it made bad investment choices that caused employees to lose money in their 401k plans.

Even upper management positions are affected. Like many corporations in the United States, McDonalds must adhere to ERISA (Employee Retirement Income Security Act of 1974), the federal law that sets a minimum standard to ensure employees receive a reasonable pension and healthcare plan.

In providing 401k plans to its employees and being responsible for managing the assets of the plans, McDonalds has the responsibility to act in the best interest of the 401k plan participants, and must avoid conflicts of interests with their employees. Any company that fails to protect the best interest of their 401k participants, may be subject to legal action for ERISA violations.

Many full-time salaried employees rely on their 401k plan as one of their main sources of income after retirement. However, the 401k plans could drop in value due to poor investment decisions made by the company.

For McDonalds, the company has been accused of making ill-advised investments which caused their employees’ 401k plans to lose value.

A class action lawsuit investigation has been launched regarding the impact of the investment choices on McDonalds supervisors and those at higher levels of the company paid on a salary basis and who have been a McDonalds 401k participant since 2007.

In the past few years, McDonalds has been at the center of several wage controversies. Workers have reported the company forces them to work unreasonable hours and holidays, like Christmas and Thanksgiving. The higher tiered employees in the companies are reportedly expected to work long hours.

Join a Free McDonalds 401k Class Action Lawsuit Investigation

A class action lawsuit investigation is currently underway to pursue the possibility of taking legal action against McDonalds for potentially violating ERISA. If you are a McDonalds employee who signed up for a McDonalds 401k account since 2007, you may have a legal claim.

Join the Investigation Now

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