Recruiting Headlines

US Department of Labor files amicus brief supporting fiduciary discretion in use of forfeited funds under ERISA

This post was originally published on this site.

WASHINGTON – The U.S. Department of Labor today filed an amicus brief urging the Fourth Circuit to affirm a district court’s decision dismissing the claims in Stana v. SAS Institute Inc., No. 26-1305, that the employer breached its fiduciary obligations by not using forfeited funds for plan expenses.In the amicus brief, the department asserted that the district court appropriately determined the plan fiduciary did not violate its duty of loyalty to plan participants. The plaintiffs’ argument that forfeitures should be allocated to pay plan expenses does not allow for the fact that the plan at issue gave the fiduciary that

Exit mobile version