Cigna Hit With Forfeiture Lawsuit; Intuit Reaches Settlement
The Cigna Group was accused of mismanaging the forfeited funds in its 401(k) plan, and a settlement was reached in...
Tag: retirement plan forfeitures
California District Court Dismisses Forfeitures Class Action Against Kaiser Foundation
A federal judge dismissed the claim that the plan sponsor’s use of forfeited assets violated ERISA.
Empower Accused of Misusing Participant Data, Cross-Selling in Recent Lawsuit
Former participants of insurance company Swiss Re’s retirement plan also accused the firm of allowing the plan to pay excessive...
Charter Communications Faces 401(k) Forfeiture Suit
The plaintiffs in the latest forfeiture case are represented by law firm Schlichter Bogard LLP.
Trader Joe’s 401(k) Plan Accused of Overinvesting in Single Fund, Mismanaging Forfeitures
Two more companies, in addition to Trader Joe’s, now face lawsuits related to 401(k) forfeitures.
JPMorgan Hit With 401(k) Forfeiture Lawsuit
The banking giant is the latest company to face litigation over its use of forfeited 401(k) assets.
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Employers can significantly enhance workers' retirement savings by making savings rates portable, shortening eligibility and vesting timelines, and improving choice...
Amazon Accused of Mismanaging Millions of 401(k) Forfeiture Funds
The online retail giant is the largest company on the growing list of forfeiture lawsuit defendants.
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.
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.