Siedle: Recently there have been a number of lawsuits filed against 401k plan sponsors alleging excessive fees and a failureon the part of sponsors to monitor and disclose fees.
But we do see these kind of pent-up frustrations, the sign of failure to deliver on expectations, the failure to deliver the orthodoxy of the Social Security plan, the nomination of Harriet Miers, a disappointment.
But he said the lingering effects of superstorm Sandy and the administration's failure to broker a deal with the teachers' union on an evaluation plan have exerted significant pressure on the city's finances.