Amazon Employees File 401(k) Plan Forfeiture Complaint in Federal Court
The online retail giant joins more than 30 plan sponsors accused of mismanaging participant forfeitures for its own gain.
Tag: retirement plan forfeitures
BMO Financial Next Up in Plan Forfeiture Legal Complaints
BMO received a complaint alleging its plan committee breached ERISA by using forfeited plan assets to benefit the company, not...
Clorox Wins 1st Round in 401(k) Plan Forfeiture Lawsuit
A federal judge called the plaintiff’s claims ‘impermissibly broad,’ but gave the plaintiff a chance to submit a revised complaint.
BAE Beats 401(k) Plan Forfeiture Suit
A federal judge in Virginia dismissed a proposed class action, marking one win for defendants amid a slew of recent...
Clorox Seeks Dismissal of 401(k) Forfeiture Complaint
The company argues in the filing that its fiduciaries followed IRS guidance on how unused retirement assets can be used.
Two Plan Sponsors Accused of Improper Use of 401(k) Forfeitures
ERISA experts point to longstanding and widespread practice of using forfeitures to reduce future employer contributions or pay reasonable expenses.