Ford Sued Over Retirement Plan Fee Payments by Schlichter Bogard

Five former Ford Motor Co. employees filed a proposed class action Friday accusing the automaker of mismanaging a pair of retirement plans, causing them and their fellow workers to lose out on more than $100 million.

Ford is accused of violating terms in both plans that require administrative expenses to be paid either by the company or with the assets that have been forfeited by departing employees. Ford flouted these mandates by consistently using non-forfeiture assets to pay for recordkeeping, legal, accounting, and other administrative services related to the plans, according to a complaint filed in the US District Court ...