Bank of America Sued by 401(k) Participants over Misuse of 'Forfeited' Funds

BofA employees filed a lawsuit last week alleging that the company mismanaged its 401(k) plan by using assets forfeited by former workers for its own financial benefit.

By Lynn Cavanaugh | August 14, 2024 at 10:00 AM

Another employer has been hit with a fiduciary breach class action lawsuit, alleging misuse of 401(k) plan forfeitures: Bank of America was sued by participants last week for improperly benefitting from the 401(k) plan money forfeited by employees who left the company.

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The Inflation Reduction Act’s Implications for Employer-Sponsored Health Plans

By Christine Cooper and Jack Towarnicky | November 12, 2024

By being prepared and implementing strategic solutions, employers can mitigate some of the financial pressures that may arise from the IRA, ensuring that their employees and retirees are better protected from the ripple effects of this landmark legislation.

The Inflation Reduction Act’s Implications for Employer-Sponsored Health Plans

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33,000 Boeing Workers End Strike: No Pension in New Contract, but 401(k) Contribution Boost

By Lynn Cavanaugh | November 06, 2024

Retirement plans were a hot button issue for union workers, but Boeing says pension plans are "prohibitively expensive."

33,000 Boeing Workers End Strike: No Pension in New Contract, but 401(k) Contribution Boost

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