Labor Department Backs Honeywell in 401(k) Forfeiture Appeal

The Labor Department urged the Third Circuit to affirm dismissal of a lawsuit against Honeywell International Inc., arguing the company’s use of forfeited 401(k) funds to offset its own contributions doesn’t violate ERISA fiduciary duties.

The support from the federal government comes as the US Department of Labor under the second Trump administration has stepped in to defend various employer pension plans in Employee Retirement Investment Security Act suits, including Lockheed Martin Corp. and JP Morgan Chase & Co.

The Labor Department said in an amicus brief Friday that an ex-Honeywell employee suing on behalf of a proposed class ...