Fisher Asset’s 401(k) Plan Keeps Earnings on Forfeited Match

Fisher Asset Management LLC‘s 401(k) plan can keep more than $200,000 in investment returns earned off the matching contributions a former employee forfeited by leaving the company after less than two years, a federal judge ruled.

The plaintiff, who worked for Fisher from October 2004 to July 2006, forfeited about $26,000 in unvested matching 401(k) contributions because he didn’t stay with the company long enough for the contributions to vest. He says Fisher wrongly kept this money in the plan until 2023, when it had grown to $245,000, and then withdrew it in violation of the Employee Retirement Income ...