UnitedHealth 401(k) Plan Forfeits Lawsuit to Continue
The insurer and healthcare company, which is accused of fiduciary breaches, lost a motion in federal court to dismiss a...
Tag: retirement plan forfeitures
DOL Presents 3 Oral Arguments Backing Employers in Forfeiture Cases
Department of Labor attorneys requested that the appeals courts affirm previous decisions to dismiss claims of fiduciary breach under the...
Appellate Court Dismisses Forfeited Funds Case Against Wells Fargo
The U.S. 8th Circuit Court of Appeals is the first appellate court to decide whether former employees and plan participants...
DOL Asks to Join Oral Arguments in 2 Plan Forfeiture Cases
Honeywell International Inc. and Siemens Corp. gave the Department of Labor 5 of their allotted 15 minutes of oral argument...
DOL May Join Oral Arguments in HP Forfeiture Case
The Department of Labor previously filed an amicus brief supporting the defendants in the case, Hutchins v. HP Inc.
Health Care System Settles Forfeiture Case for $42.7M
More than $21 million currently held in Providence Health & Services’ forfeiture accounts will be distributed to plan participants.
District Court Allows 401(k) Forfeiture Case to Go to Trial
The district judge denied a motion to dismiss claims that Illinois Tool Works and its plan fiduciaries had breached their...
DOL Backs Employers Again, Escalates Warning in Forfeiture Cases
The Department of Labor’s fourth amicus brief sided with employers, saying the decision on how to use retirement plan forfeitures...
Third DOL Amicus Brief Sides With Employers
Once again, the DOL argues that choosing how to allocate forfeitures cannot constitute a fiduciary breach under the Employee Retirement...
RTX 401(k) Forfeiture Complaint Dismissed
The dismissal continues a string of legal victories for employers.
401(k) Forfeiture Case Against Northrup Grumman Dismissed
A federal judge ruled that the company did not breach its fiduciary duties by using 401(k) plan forfeitures to offset...
Joint Amicus Brief Backs Dismissal of 401(k) Forfeiture Complaint Against Wells Fargo
The ERISA Industry Committee and its coalition said that the IRS has consistently taken the position that forfeitures can be...
AT&T ERISA Complaint Dismissed by Federal Judge
Plaintiffs accused AT&T of using 401(k) plan forfeitures to offset company contributions, but the judge ruled that AT&T’s actions followed decades...
Fidelity, Centene Face ERISA Suit for Excessive Fees, Misused Forfeitures
Fidelity is accused of creating a conflict of interest by having its affiliates serve as trustee and investment advisers to...
ERISA Case Against WPP Group USA Dismissed
A federal judge dismissed a complaint accusing WPP Group USA of misusing employee forfeitures to offset company costs rather than...
Former Employees Accuse Duke of Misusing Forfeitures
Former employees allege that Duke University chose not to use forfeited funds to reduce retirement plan expenses, even though contributions...
Capital One Settles Plan Forfeiture Case
Like similar cases, Capital One was accused of mismanaging its 401(k) plan by using plan forfeitures to reduce contributions.
Forfeiture Complaint Against WillScot Dismissed
An Arizona judge dismissed all but one of the claims in a 401(k) plan forfeiture complaint against WillScot Holdings Corp.
Plaintiffs Appeal 401(k) Forfeiture Case Against Honeywell
A day after a federal district court dismissed a 401(k)-plan forfeiture complaint suit against plan sponsor Honeywell International, plaintiffs appealed...
District Court Denies Bank of America’s Motion to Dismiss 401(k) Forfeitures Case
U.S. District Judge Max Cogburn Jr. rejected Bank of America’s argument that its decisions were made in a “settlor capacity”...