UnitedHealth Hit With Second 401(k) Plan Forfeiture Use Suit (1)

UnitedHealth Group Inc. was sued by a participant in its 401(k) plan who says the health-care giant mismanages the plan by using forfeited money for its own benefit.

The company improperly uses the 401(k) money forfeited by departing employees to reduce the contributions it’s required to make to the plan instead of using that money to benefit workers by lowering their administrative expenses, according to a proposed class complaint filed Wednesday in the US District Court for the District of Minnesota. The UnitedHealth plan, which held more than $22 billion in assets as of 2023, put more than $19.3 million ...