HP Forfeiture Decision Validates That a Fiduciary's Primary Responsibility Is to Provide Promised Benefits, Not Reduced Participant Fees

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HP Forfeiture Decision Validates That a Fiduciary's Primary Responsibility Is to Provide Promised Benefits, Not Reduced Participant Fees
Encore Fiduciary

[Opinion]
Feb. 28, 2025

"[T]he court confirmed that the goal of ERISA fiduciary law is to ensure that plan participants receive their promised benefits. This formula should be applied to dismiss any forfeiture liability claim in which the plan fiduciaries faithfully followed the terms of plan documents and the long-settled fiduciary practice to offset forfeitures against further contributions." [Hutchins v. HP Inc., No. 23-5875 (N.D. Calif. Feb. 5, 2025)] MORE >>

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