Tetra Tech 401(k) Forfeiture Usage Lawsuit Booted to Arbitration

Tetra Tech Inc. secured a court order compelling arbitration in a lawsuit challenging how it handles the 401(k) plan money forfeited by workers who leave their jobs after short periods.

Tetra Tech’s 401(k) plan allows an arbitrator to award all relief available under the Employee Retirement Income Security Act to a claimant acting in their individual capacity, including the removal of a plan fiduciary, the US District Court for the Central District of California said. The agreement therefore doesn’t act as a prospective waiver of statutory rights under ERISA and can be enforced to send this dispute into arbitration, ...