Husch Blackwell Hit With Class Suit Over 401(k) Contributions

A former Husch Blackwell LLP partner filed a proposed class action saying the law firm mismanaged the retirement benefits of about 400 employees by failing to promptly forward their salary withholdings to its 401(k) plan.

The law firm held onto employees’ 401(k) salary deferral contributions for months at a time and used these amounts to pay the firm’s operating expenses, according to a complaint filed Tuesday in the US District Court for the Western District of Missouri.

This constitutes unlawful self-dealing in violation of the Employee Retirement Income Security Act and its implementing regulations, which require employee retirement plan contributions ...