WillScot Mobile 401(k) Forfeiture Suit Falls Flat in Arizona

WillScot Mobile Mini Holdings Corp. scored a court order dismissing litigation over how it uses the unvested 401(k) contributions forfeited by departing workers, joining a growing list of employers to defeat similar allegations.

Dozens of recent lawsuits have accused companies of violating the Employee Retirement Income Security Act by using 401(k) forfeitures to reduce the money they’re required to contribute to their plans, instead of using them to lower the administrative fees paid by workers. Early rulings in these cases have largely favored employers, and the US Labor Department has opposed the litigation push challenging this practice under ERISA. ...