In 2024, Bank of America was sued by 401(k) plan participants over misuse of forfeited funds and Nordstrom was hit with an ERISA lawsuit over misuse of forfeited funds, as well as excessive 401(k ...

Three former employees of the Cigna Group have filed suit against the company, alleging it misused forfeited funds in its 401(k) plan in violation of the Employee Retirement Income Security Act, the ...

In May, a very similar 401(k) lawsuit was filed against Cigna in the same district court in Pennsylvania. In Reven et al. v.The Cigna Group 401(k) Plan Retirement Plan Committee, former employees ...

Another week, another Adams v. Goliath story in the world of ERISA litigation—and this time, Goliath is Cigna. The company is now facing its ...

The Cigna Group is the latest company to face a lawsuit over its treatment of forfeitures. Meanwhile, software company Intuit Inc. has Cigna hit with 401(k) forfeiture lawsuit | HealthLeaders Media ...

"Given the infancy of these novel theories and a largely unsettled legal landscape, it is paramount for plan sponsors and fiduciaries to implement risk mitigation strategies now," Holland & Knight ...

The nascent legal battle over how employers use forfeited money in their 401(k) plans has spurred more than a dozen early ...

This same argument has been made in the slew of other Employee Retirement Income Security Act lawsuits against plan sponsors. Most recently, Cigna Group was sued for its treatment of forfeitures, ...