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Another 401(k) Plan Sponsor Faces Novel Suit Regarding Its Use of Forfeiture Funds
Jones Day 
Mar. 6, 2024 "This is the seventh lawsuit filed against a plan sponsor, all filed by the same plaintiffs' firm in federal district courts throughout California. In some of the prior lawsuits, plaintiffs have alleged that the governing plan documents explicitly provided that plan sponsors could use forfeitures to lower contributions owed to the plans. The Tetra complaint is devoid of such allegations." [Yagy v. Tetra Tech, Inc., Case No. 24-1394, (C.D. Cal. complaint filed Feb. 21, 2024)] |
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