June 24, 2025
Nordstrom dodged a proposed class action claiming it saddled its 401(k) plan with excessive fees and used forfeited plan funds to offset its own contributions, with a Washington state federal judge saying inaccurate data and flawed comparisons to other plans couldn't sustain the case.
August 16, 2024
A California federal judge's recent decision refusing to toss a federal benefits lawsuit alleging Intuit misspent 401(k) plan forfeitures shows how a novel pleading under the Employee Retirement Income Security Act has gained a foothold in some district courts, attorneys say. Here's a rundown with attorneys on the Intuit ruling and what to expect as more large employers are being targeted with proposed class action litigation challenging 401(k) forfeiture spending.
August 14, 2024
Nordstrom cost workers millions in savings by failing to trim excessive fees from its $3.4 billion retirement plan and using forfeited plan funds to cushion its contribution promises, a group of current and former workers alleged in a suit filed in Washington federal court.