Legal

Since there have been more than 50 similar 401(k) forfeiture lawsuits filed recently, the Department of Labor has weighed in on the HP lawsuit, now on appeal: "A fiduciary's use of forfeited employer contributions … alleged in this [HP] case … would not violate ERISA."

The Supreme Court will hear a case against the IAM National Pension Fund, which could affect most of the nation's 1,400 multiemployer plans.

After a jury trial awarded 26,000 bank employees $38 million – short of the damages sought – in an ERISA fiduciary breach lawsuit in April, the leading retirement plan provider agreed to the extra $10 million to resolve the suit.

America has entered uncharted territory on immigration, as employers and employees alike navigate a shifting political and legal landscape.

The 4-year-old case alleged that the financial institution mismanaged its $440 million employee retirement plan with underperforming funds that had higher fees than comparative funds in the market.

Plan sponsors must benchmark their plan selection funds yearly and replace those underperforming funds, recommends Abernathy Daley 401k Consultants, which assessed performance data from over 58,000 401(k) plans.