The Wagner Law Group continues to monitor the recent flood of “forfeiture” litigation. This alert is our sixth update reporting on and analyzing the nature of the claims raised by plaintiffs, the...
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DOL vs. IRS Rules: Courts Asked to Decide How 401(k) Plans Can Use Forfeiture Assets
DOL vs. IRS Rules: Courts Asked to Decide How 401(k) Plans Can Use Forfeiture Assets - Michael Schloss, Pensions & Investments, September 23, 2024 (PDF)
Forfeiture Cases Update – BAE Prevails on a Motion to Dismiss
Over the past year, we have kept you apprised of evolving trends involving putative class action lawsuits alleging that plan fiduciaries violated their duties of prudence and loyalty under Title I...
BAE Beats 401(k) Plan Forfeiture Suit
BAE Beats 401(k) Plan Forfeiture Suit - Michael Schloss, planadviser, September 9, 2024 (PDF)
Nordstrom Suit, HP Revival Add to 401(k) Forfeiture Cases
Nordstrom Suit, HP Revival Add to 401(k) Forfeiture Cases - Michael Schloss, PLANSPONSOR, August 20, 2024 (PDF)
401(k) Forfeiture Lawsuit Wave Still Splashing West Coast
401(k) Forfeiture Lawsuit Wave Still Splashing West Coast - Michael Schloss, 401(k) Specialist, August 20, 2024 (PDF)
Forfeiture Cases – Update
Last year, we alerted you to the filing of several class action lawsuits alleging that plan fiduciaries violated their duties of prudence and loyalty under Title I of ERISA by applying forfeitures...
Employer Forfeited Funds Complaint Against HP Inc. 401(k) Plan Is Dismissed
Employer Forfeited Funds Complaint Against HP Inc. 401(k) Plan Is Dismissed - Marcia Wagner and Andrew Oringer, PLANSPONSOR, July 10, 2024 (PDF)
TIAA Retirement Suit Foreshadows Future 401(k) Rule Litigation
TIAA Retirement Suit Foreshadows Future 401(k) Rule Litigation - Andrew Oringer, Bloomberg Law, June 7, 2024 (PDF)
District Court Denies Motion to Dismiss Forfeiture Complaint
Michael Schloss is a highly...
Longstanding Internal Revenue Service Position on Forfeitures Called Into Question
Longstanding Internal Revenue Service Position on Forfeitures Called Into Question - Marcia Wagner, 401(k) Advisor, April, 2024
Longstanding Internal Revenue Service Position Called into Question
By Barry Salkin, Michael Schloss and Mark Greenstein Recently, several class action lawsuits have been filed challenging the permissibility of plan language providing discretion as to how...
Complaints Allege Improper Use of 401(k) Plan Forfeitures
Complaints Allege Improper Use of 401(k) Plan Forfeitures - Marcia Wagner, PLANSPONSOR, October 9, 2023 (PDF)
IRS Issues Proposed Regulations Regarding Use of Forfeitures in Tax-Qualified Plans
By Jon Schultze and Barry Salkin Some of the IRS regulations dealing with tax-qualified plans predate ERISA and subsequent federal tax legislation, and have become outdated. However, sometimes it...