Topic
401(k)
508 published works
Beneficially Yours
Coffee Talk With Benefits Episode 19: 401(k) Forfeitures Under Fire: Unpacking Recent Legal Battles
By Sarah Touzalin, Richard G. Schwartz, Ian Morrison
In this episode, Richard and Sarah are joined by Ian Morrison, a Partner in Seyfarth’s ERISA Litigation group to delve into a new line of cases alleging that forfeitures are…
Benefits Law Update
Novel 401(k) Plan Lawsuits Over the Use of Forfeitures—Swinging for the Fences or Plausible Claims?
In our December 7, 2023 post, we noted five class action lawsuits, all filed by the same law firm within two months, in which 401(k) plan participants allege plan fiduciaries…
Cohen & Buckmann Insights
Use of 401(k) Plan Forfeitures Continues to be Scrutinized in Litigation
By Sandra Cohen
Cohen & Buckmann partner Carol Buckmann was interviewed by Plan Sponsor Magazine about recently filed lawsuits challenging the use of 401(k) plan forfeitures to reduce employer contributions. Carol explains that…
SW Benefits Blog
Catch Back Up on the SECURE 2.0 Increased Catch-Up Limits for 2025
With SECURE 2.0’s increased catch-up contribution limits set to take effect next year, it’s time for 401(k) plan sponsors to brush up on the rules and consider how to administer…
Your ERISA Watch
Third Circuit Rules That Participants Adequately Alleged Plan Breached Fiduciary Duty by Paying Quadruple the Going Rate in Recordkeeping Fees
By Elizabeth Hopkins, KKLP Marketing
Mator v. Wesco Distribution, Inc., No. 22-2552, __ F. 4th __, 2024 WL 2198120 (3d Cir. May. 16, 2024) (Before Circuit Judges Hardiman, Porter, and Fisher) When the Supreme Court…
Hall Benefits Law Blog
Defense Contractor L3Harris to Pay $650K to Settle 401(k) Class Action
By Anne Hall
Aerospace and defense technology company L3Harris has agreed to settle an Employee Retirement Income Security Act (ERISA) class action lawsuit for $650,000. Plan participants in the company’s $5.2 million 401(k)…
Employee Benefits
IRS Issues Guidance on Secure 2.0 – What Plan Sponsors Need to Know
In late December 2023, approximately one year after Congress enacted the Setting Every Community Up for Retirement Enhancement Act of 2022 (“SECURE 2.0”), the Internal Revenue Service (the “IRS”) released…
Employee Benefits Blog
IRS Issues Guidance on Secure 2.0 – What Plan Sponsors Need to Know
In late December 2023, approximately one year after Congress enacted the Setting Every Community Up for Retirement Enhancement Act of 2022 (“SECURE 2.0”), the Internal Revenue Service (the “IRS”) released…
Compensation & Benefits Blog
California District Court Denies Motion to Dismiss 401(k) Excessive Fee and Underperformance Claims
By Daniel Wesson, Joseph Clark
A California district court recently denied a motion to dismiss claims that the fiduciaries of a 401(k) plan breached their ERISA fiduciary duties of prudence and loyalty by selecting underperforming,…
Compensation & Benefits Blog
Wisconsin Federal District Court Issues Five Rulings on Motions to Dismiss 401(k) Investment and Fee Cases – Is There a Way to Reconcile Them?
By Myron Rumeld, Joseph Clark, Sydney Juliano
Defense counsel frequently lament the difficulties of defending 401(k) investment and recordkeeping fee litigation when different judges render conflicting rulings on motions to dismiss seemingly indistinguishable complaints. Even when the…