Labor Department Looks to Join More 401(k) Forfeiture Arguments

The US Labor Department wants to participate in Third Circuit oral arguments in a pair of cases challenging how Honeywell International Inc. and Siemens Corp. handle forfeited contributions in their employees’ 401(k) plans.

The department on Monday asked the US Court of Appeals for the Third Circuit for at least five minutes to argue in support of each company. Both cases are scheduled to be argued May 27 before a panel that includes Judges Peter J. Phipps, Arianna J. Freeman, and Jennifer L. Mascott.

The cases give the Third Circuit its first chance to consider the ...