Compliance | September 24th, 2024 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...
Compliance | September 10th, 2024 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...
Compliance | August 30th, 2024 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...
Compliance | August 27th, 2024 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.
Compliance | August 20th, 2024 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...
Compliance | August 13th, 2024 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...
Compliance | July 10th, 2024 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...
Compliance | June 13th, 2024 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...
Compliance | June 5th, 2024 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.
Compliance | December 15th, 2023 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...
Compliance | October 9th, 2023 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...
Ask the Experts | August 8th, 2023 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.
Compliance | March 2nd, 2023 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.
Ask the Experts | December 14th, 2021 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.