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Benefit Plan Sponsors › ERISA Litigation › Forfeiture

Bond Schoeneck & King PLLC

401(k) Forfeiture Litigation: Implications for Plan Sponsors

Bond Schoeneck & King PLLC on

Background - In a wave of class-action litigation beginning around 2023, plaintiffs have alleged violations of fiduciary duties under the Employee Retirement Income Security Act (ERISA) and prohibited transaction rules in...more

Holland & Knight LLP

Northern District of California Dismisses 401(k) Forfeiture Suit with Prejudice

Holland & Knight LLP on

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

Shipman & Goodwin LLP

Plan Forfeiture Litigation: A Trend to Watch

Shipman & Goodwin LLP on

The most recent wave of ERISA litigation is focused on the use of plan forfeitures in 401(k) plans, with the newest case, Armenta v. WillScot Mobile Mini Holdings Corp. being filed just last week. Although, for years, many...more

UB Greensfelder LLP

New Developments in 401(k) Plan Forfeiture Lawsuits: Advice for Plan Sponsors

UB Greensfelder LLP on

401(k) plan sponsors are seeing a string of lawsuits challenging their use of forfeitures to offset matching contributions. In the most recent suit, plaintiffs claimed that a 401(k) plan sponsor violated its fiduciary duties...more

Proskauer - Employee Benefits & Executive...

District Court Dismisses Challenge to Use of Plan Forfeitures

Proskauer - Employee Benefits & Executive... on

A federal district court recently granted a motion to dismiss claims that defined contribution plan fiduciaries breached their fiduciary duties of loyalty and prudence, and violated ERISA’s anti-inurement and prohibited...more

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