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Amazon abusing 401(k) funds Amazon has been accused of violating federal employment law by mismanaging the use of forfeited 401(k) funds. Participants of Amazon’s 401(k) can become fully vested, owning 100% of their own retirement plan, after only three years…
A recent decision in the Northern District of California denied Intuit’s motion to dismiss allegations that the company misused 401(k) plan forfeitures. The case is based on the allegations that Intuit Inc., breached ERISA’s fiduciary duties of prudence and loyalty…
The Employee Retirement Income Security Act of 1974 (ERISA) was enacted to, among other things, protect the assets of private employer pension plans. The federal law sets minimum standards for most voluntarily established pension and health plans in the private…