RTX Corp. Nabs Latest Employer Win Over 401(k) Forfeiture Claims

RTX Corp. defeated a proposed class action by former employees who say the defense and aerospace company mismanaged their retirement plan by wrongly using 401(k) contributions forfeited by departing workers for its own benefit.

RTX—formerly known as Raytheon Technologies Corp.—followed the terms of its retirement plan document by using 401(k) forfeitures to make employer contributions and to offset administrative expenses, Judge Leonie M. Brinkema of the US District Court for the Eastern District of Virginia said Thursday. Brinkema dismissed the entirety of the employees’ eight-count lawsuit, saying they failed to show a fiduciary breach or other violation of the Employee ...