About the Course
Introduction
This CLE webinar will provide guidance on the use of forfeitures in qualified retirement plans and analyze the current state of law in the recent wave of ERISA class action lawsuits attaching the use of forfeitures to offset employer contributions. The panel will discuss recent developments, structuring and compliance risks, timing of use issues, permitted uses, reducing employer contributions and paying plan expenses, forfeitures in defined benefit plans, risk mitigation strategies, and other key issues.
Description
Over the last two years, nearly 80 class action lawsuits alleging the misuse of retirement plan forfeitures have been filed against major U.S. retirement plans and their fiduciaries.
Forfeitures are plan assets derived from non-vested employer contributions that are forfeited from a participant's account when that participant terminates employment and is not fully vested. The plan document typically specifies the timing of the forfeiture, vesting schedules, applicable IRS rules, and in some cases is left at the discretion of the fiduciary. Instead of using employer assets, these forfeited funds can be used to pay for employer contributions or plan expenses. However, plan sponsors and fiduciaries face a number of challenges stemming from IRS rules, plan documentation, timing, and other key items that must be considered to mitigate compliance risks.
Listen as our panel discusses recent developments and ERISA forfeiture lawsuits, the timing of use issues, permitted uses, reducing employer contributions and paying plan expenses, risks, risk mitigation strategies, and other key issues.
Presented By
Ms. Camp is a trial attorney in Holland & Knight's West Palm Beach and Atlanta offices and a member of Holland & Knight's Chambers-recognized ERISA Litigation Team. She helps companies navigate the most complex challenges in employee benefits litigation with clarity, confidence and strategic insight. Ms. Camp represents plan sponsors, fiduciaries and boards in high-stakes Employee Retirement Income Security Act of 1974 (ERISA) class actions and regulatory enforcement matters. Clients rely on her not only for her courtroom experience but also for her practical, business-minded guidance that helps minimize risk in the administration of defined contribution and health and welfare plans. A seasoned trial attorney, Ms. Camp has successfully defended numerous ERISA class actions involving breach of fiduciary duty, prohibited transactions, excessive fee claims and plan termination disputes. Her litigation experience spans federal courts, arbitration panels and appellate forums nationwide.
Ms. Perkowski is a litigation attorney in Holland & Knight's Atlanta office. She focuses her practice on complex commercial litigation matters involving labor and employment issues, disputes under the Employee Retirement Income Security Act of 1974 (ERISA), business disputes and product liability and mass torts. Ms. Perkowski has substantial experience in all aspects of complex litigation, including fact discovery, expert discovery, motions practice, trials and appeals. She has developed expert witnesses, prepared company witnesses for deposition, first-chaired numerous depositions and drafted dispositive motions and appellate briefs. Prior to joining Holland & Knight, Ms. Perkowski was an associate at a large international law firm in New York, where her practice focused on complex commercial litigation, with a particular concentration in pharmaceutical product liability and mass tort matters.
Mr. Wozniak defends companies, fiduciaries and public institutions throughout the United States in Employee Retirement Income Security Act of 1974 (ERISA), employee stock ownership plans (ESOP), labor and employment, and business disputes.
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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Date + Time
- event
Thursday, December 11, 2025
- schedule
1:00 p.m. ET./10:00 a.m. PT
I. Overview of forfeitures
II. Uses of plan forfeitures and challenges
III. Other key considerations
A. Plan corrections
B. Plans with full vesting
C. Plan termination
IV. Recent lawsuits and mitigating risks
V. Best practices for mitigating forfeiture compliance risks
The panel will discuss these and other key issues:
- What are the uses of plan forfeitures?
- What is the federal government's position regarding the appropriate use of plan forfeitures?
- What are the key issues presented in recent ERISA forfeiture lawsuits?
- What steps can be taken to mitigate forfeiture compliance risks?
