Trader Joe’s defeated claims that it mishandled forfeited money in its 401(k) plan, but the ongoing trial over the plan’s fees and investment options will continue, a Boston federal judge ruled Friday.
Judge William G. Young ruled in the grocer’s favor on claims that it wrongly used 401(k) forfeitures for its own benefit. But he declined to award the company judgment on other claims, saying the judge-only trial that began May 4—the first to test an emerging legal theory surrounding 401(k) forfeitures—will continue next week.
About 100 recent lawsuits have accused companies of violating the Employee Retirement Income Security Act ...