Latest 401(k) Plan Forfeiture Complaint Filed Against BMO Financial
The bank’s retirement plan committee faces a complaint for alleged misuse of forfeited plan funds.
Tag: retirement plan forfeitures
Judge Dismisses 401(k) Forfeiture Lawsuit Against Clorox
The federal judge in California described the plaintiff’s claims as ‘impermissibly broad,’ but did grant the plaintiff a chance to...
Coca-Cola Southwest Faces Lawsuit Over Forfeitures, Target-Date Funds
The soda distributor was accused of offering a suite of ‘underperforming’ target-date funds in its 401(k) plan, as well as...
Federal Court in California Grants Dismissal of Thermo Fisher 401(k) Forfeiture Suit
A participant in Thermo Fisher’s 401(k) plan accused the employer and its pension committee of violating ERISA by using forfeited...
Judge Sides With BAE in Plan Forfeiture Suit
BAE beat a proposed class action over its use of 401(k) forfeited contributions; the ruling is one among a handful...
Home Depot Sued Over Use of Plan Forfeitures
The home improvement retailer is the latest company accused of using forfeited 401(k) funds for its own benefit, instead of...
Siemens Targeted in New Forfeiture Lawsuit
The technology and manufacturing company is the latest accused of misusing forfeited retirement funds to pay for future employer contributions.
Nordstrom Suit, HP Revival Add to 401(k) Forfeiture Cases
A Wagner Law Group attorney says plan sponsors should review their plan documents, as Nordstrom is the latest employer challenged...
401(k) Forfeiture Lawsuits Continue to Advance
Lawsuits against Bank of America, Intuit and Qualcomm alleging improper use of forfeited plan funds are all either under consideration...
Employer Forfeited Funds Complaint Against HP Inc. 401(k) Plan Is Dismissed
A federal judge ruled the suit’s ‘theory of liability’ was too broad and dismissed the complaint, which focused on the...
Wells Fargo Targeted in New 401(k) Forfeiture Lawsuit
A former employee alleges that the San Francisco-based company violated its fiduciary duties by using forfeited plan assets to reduce...
Use of 401(k) Plan Forfeitures Continues to be Scrutinized in Litigation
A series of lawsuits have challenged how plan sponsors have used plan forfeitures to reduce employer contributions.
Clorox Files for Dismissal of Complaint Over 401(k) Forfeitures
The company's motion defends the plan's actions, stating that the committee followed IRS guidance and outlined its use of forfeitures...
Complaints Allege Improper Use of 401(k) Plan Forfeitures
Plan fiduciaries were accused of fiduciary breaches for using plan forfeitures to offset future employer contributions, but ERISA experts would...
How Do Maximum Elective Deferrals Work in a 403(b)/457(b) Combination?
Experts from Groom Law Group and CAPTRUST answer questions concerning retirement plan administration and regulations.
IRS Offers New Rules on Deadline for Using Retirement Forfeitures
The proposal states that plan administrators need to use retirement plan forfeitures within 12 months.
Can Forfeitures Be Used for a One-Time Discretionary Contribution?
Experts from Groom Law Group and CAPTRUST answer questions concerning retirement plan administration and regulations.