Since September 2023, plaintiffs have filed numerous class action lawsuits alleging that the use of 401(k) forfeitures to offset future employer contributions violates the Employee Retirement Income Security Act of 1974...more
In Hutchins v. HP Inc., the U.S. District Court for the Northern District of California dismissed – with prejudice – the plaintiff's claims challenging the use of forfeited employer 401(k) contributions. This is the latest...more
2/13/2025
/ 401k ,
Benefit Plan Sponsors ,
Class Action ,
Compliance ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employment Litigation ,
ERISA Litigation ,
Fiduciary Duty ,
Forfeiture ,
Retirement Plan
There has been a recent uptick in ERISA class actions challenging the use of 401(k) plan forfeitures. Forfeitures are employer contributions that participants forfeit when they leave employment before those contributions vest...more
1/24/2025
/ 401k ,
Benefit Plan Sponsors ,
Class Action ,
Employee Retirement Income Security Act (ERISA) ,
Employer Contributions ,
Fiduciary Duty ,
Forfeiture ,
Plan Administrators ,
Retirement Plan ,
Risk Management ,
U.S. Treasury ,
Vesting
In Hughes v. Northwestern University, current and former participants in Northwestern University's defined-contribution retirement plans filed litigation on behalf of the plans' participants asserting that the University, its...more
2/25/2022
/ 401k ,
Benefit Plan Sponsors ,
Class Action ,
Duty of Prudence ,
Employee Retirement Income Security Act (ERISA) ,
Excessive Fees ,
Fees ,
Fiduciary Duty ,
Hughes v. Northwestern University ,
Plan Participants ,
Retirement Plan ,
Retirement Plan Providers ,
SCOTUS
The U.S. District Court for the Northern District of Illinois has dismissed a putative class action lawsuit brought under the Employee Retirement Income Security Act of 1974 (ERISA) by a participant of 401(k) plan against the...more