4th Circ. Says Merrill Bonus Plan Exempt From ERISA

By Kellie Mejdrich · April 17, 2026, 2:15 PM EDT

The Fourth Circuit on Friday refused to revive an ex-Merrill financial adviser's proposed class action claiming he was shorted deferred compensation, backing a lower court's holding that the retention bonuses at...

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Case Information

Case Title

Kelly Milligan v. Merrill Lynch, Pierce, Fenner & Smith, Inc.

Case Number

25-1385

Court

Appellate - 4th Circuit

Nature of Suit

3791 Employee Retirement

Date Filed

April 14, 2025