Borrowing costs have become compelling, as markets are already pricing in expectations for reduced interest rates. And several external factors could reverse that trend.
The firm mismanaged its $3.4 billion 401(k) plan by overpaying for administrative services and misusing money forfeited by former employees, the class-action lawsuit alleges.
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.
About 300,000 employees sued FBG for mismanaging their benefit plans by collecting "ill-gotten profits" from their retirement, health, and fringe-benefits plans.