Trade Associations
Here's a look at documents from national and international trade associations
Featured Stories
Sun Country Airlines' Pilots Respond to Merger Announcement With Allegiant Air
MCLEAN, Virginia, Jan. 13 -- The Air Line Pilots Association International issued the following news release on Jan. 12, 2026:
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Sun Country Airlines' Pilots Respond to Merger Announcement with Allegiant Air
The pilots of Sun Country Airlines, represented by the Air Line Pilots Association, Int'l (ALPA), responded to yesterday's announcement of a proposed merger between Sun Country Airlines and Allegiant Air. While details of the agreement are still emerging, Sun Country pilots look forward to learning more about the potential improvements that a merger would bring for Sun Country's approximately
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MCLEAN, Virginia, Jan. 13 -- The Air Line Pilots Association International issued the following news release on Jan. 12, 2026:
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Sun Country Airlines' Pilots Respond to Merger Announcement with Allegiant Air
The pilots of Sun Country Airlines, represented by the Air Line Pilots Association, Int'l (ALPA), responded to yesterday's announcement of a proposed merger between Sun Country Airlines and Allegiant Air. While details of the agreement are still emerging, Sun Country pilots look forward to learning more about the potential improvements that a merger would bring for Sun Country's approximately700 ALPA pilots. Both the Sun Country and the 1,400 Allegiant pilots, represented by the International Brotherhood of Teamsters (IBT), are currently in contract negotiations with their respective managements, with the SCA pilots having opened talks in August 2025.
Captain Sam Larson, chair of the Sun Country Master Executive Council (MEC), issued the following statement:
"ALPA has 90 years of experience negotiating mergers, large and small, between ALPA carriers and ALPA-to-non-ALPA carriers such as Allegiant. We will be reaching out to IBT leadership to begin collaborative efforts toward a fair and equitable integration of the pilot seniority lists. In addition, we will jointly develop a comprehensive Collective Bargaining Agreement that reflects the best interests of both groups.
"In the immediate term, there will be no operational changes for our pilots. Daily operations will continue as normal, with both airlines functioning independently while we await the necessary approvals from government regulatory agencies. We are committed to maintaining the highest standards of safety and professionalism throughout the integration.
"ALPA will continue to protect the interests of Sun Country pilots while also leveraging the strengths of both pilot groups to forge a unified pilot group that champions safety, prioritizes job security, and provides industry-standard compensation and benefits. We believe that a collaborative approach will be essential to the success of this merger and the well-being of all pilots involved."
Founded in 1931, ALPA is the largest airline pilot union in the world and represents more than 80,000 pilots at 42 U.S. and Canadian airlines. Visit ALPA.org or follow us on X @ALPAPilots.
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Original text here: https://www.alpa.org/Press-Room/2026/01/Sun-Country-Airlines-Pilots-Respond-to-Merger-Announcement-Allegiant-Air
[Category: Transportation]
NRF Foundation Honors Raises $2.7 Million to Support Retail Careers
WASHINGTON, Jan. 13 -- The National Retail Federation posted the following news release on Jan. 12, 2026:
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NRF Foundation Honors Raises $2.7 Million to Support Retail Careers
The 11th annual NRF Foundation Honors took place on Sunday in New York City to celebrate industry leaders, award student scholarships and highlight the diverse and vibrant talent across retail. The event raised $2.7 million to fund the NRF Foundation's career development programs and resources.
"The NRF Foundation Honors is more than a celebration, it's a catalyst for the work we do year-round," said NRF Foundation
... Show Full Article
WASHINGTON, Jan. 13 -- The National Retail Federation posted the following news release on Jan. 12, 2026:
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NRF Foundation Honors Raises $2.7 Million to Support Retail Careers
The 11th annual NRF Foundation Honors took place on Sunday in New York City to celebrate industry leaders, award student scholarships and highlight the diverse and vibrant talent across retail. The event raised $2.7 million to fund the NRF Foundation's career development programs and resources.
"The NRF Foundation Honors is more than a celebration, it's a catalyst for the work we do year-round," said NRF FoundationExecutive Director Adam Lukoskie. "The funds generated through this event fuel our retail training and scholarships that launch and support retail careers. By honoring leaders and emerging talent, we make it possible to open doors, create opportunities and build a stronger future for our industry."
Presented by American Express and PwC, the event featured more than 700 attendees and was co-hosted by Goodwill Industries International President and CEO and NRF Foundation Board Chair Steve Preston and BJ's Wholesale Club Chairman and CEO and NRF Board Chair Bob Eddy.
Abercrombie & Fitch Co. CEO Fran Horowitz was honored with The Visionary award for her expertise in building brands and as a globally recognized industry leader.
The event also recognized the honorees of The List of People Shaping Retail's Future 2026, including e.l.f. Beauty Chief Marketing Officer Kory Marchisotto, Brooklinen CEO Billy May, American Eagle Outfitters Inc. Chief Global Asset Protection Officer and Chief Security Officer Scott McBride, Walmart Inc. Executive Vice President and Chief Sustainability Officer Kathleen McLaughlin and PacSun CEO Brieane Olson.
Additionally, the NRF Foundation Store Leader Spotlight celebrated five store leaders who exemplify their brand mission, invest in their team, contribute to their community and drive success.
The evening also featured the announcement of the NRF Foundation's top scholarship recipients. Sarah Starko of Babson College was awarded the 2026 NRF Foundation Next Generation Scholarship. Angel-Maryann Ntenyi, LaTasia Burton, Natasha Sturdevant and Marcos Rodriguez of the University of North Texas were announced as the top team of the 2026 NRF Foundation University Challenge.
The Door was celebrated as the 2026 RISE Up Partner of the Year. Presented by Old Navy, the award recognizes the organization for its retail career training services and its success in implementing the Foundation's RISE Up training and credentialing program.
Since 2015, the NRF Foundation Honors has raised funds to provide educational programs and resources that connect people to life-changing careers in retail. The Honors celebrates retail professionals who are building better lives and stronger communities. It is the NRF Foundation's biggest stage for telling the story of how retail is a great place to start and grow a career.
For more information, visit nrffoundation.org/honors.
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About NRF
The National Retail Federation passionately advocates for the people, brands, policies and ideas that help retail succeed. From its headquarters in Washington, D.C., NRF empowers the industry that powers the economy. Retail is the nation's largest private-sector employer, contributing $5.3 trillion to annual GDP and supporting more than one in four U.S. jobs -- 55 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job, educating, inspiring and communicating the powerful impact retail has on local communities and global economies. nrf.com
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About NRF Foundation
The NRF Foundation provides the skills and resources needed for a life-changing career. As NRF's nonprofit 501(c)(3), we connect people to an industry that's a great place to start and a great place to grow. Together, we help people build better lives and stronger communities. nrffoundation.org
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Original text here: https://nrf.com/media-center/press-releases/nrf-foundation-honors-raises-2-7-million-to-support-retail-careers
[Category: Business]
JACC Issues Inaugural Report on State of U.S. Cardiovascular Health
WASHINGTON, Jan. 13 -- The American College of Cardiology posted the following news release:
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JACC Issues Inaugural Report on State of U.S. Cardiovascular Health
Report highlights trends, disparities and opportunities to improve U.S heart health
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Through its commitment to a data-driven approach to improving cardiovascular health, JACC, the flagship journal of the American College of Cardiology, today published the first JACC Cardiovascular Statistics report. This comprehensive analysis examines five major cardiovascular disease (CVD) risk factors - hypertension, diabetes, obesity, LDL-cholesterol
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WASHINGTON, Jan. 13 -- The American College of Cardiology posted the following news release:
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JACC Issues Inaugural Report on State of U.S. Cardiovascular Health
Report highlights trends, disparities and opportunities to improve U.S heart health
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Through its commitment to a data-driven approach to improving cardiovascular health, JACC, the flagship journal of the American College of Cardiology, today published the first JACC Cardiovascular Statistics report. This comprehensive analysis examines five major cardiovascular disease (CVD) risk factors - hypertension, diabetes, obesity, LDL-cholesteroland cigarette smoking - and the five conditions that collectively account for most CVD deaths and disability in America: coronary heart disease (CHD), acute myocardial infarction (AMI), heart failure (HF), peripheral artery disease (PAD) and stroke.
"JACC Cardiovascular Statistics 2026 reflects one of JACC's most important responsibilities: to help our community see clearly where we stand," said Rishi Wadhera, MD, MPP, cardiologist at Beth Israel Deaconess Medical Center, Associate Professor of Medicine at Harvard Medical School and a lead author of the report. "Progress in cardiovascular health has always depended on data--on our willingness to reflect the evidence clearly, to face uncomfortable truths, and to use evidence to guide action."
For each risk factor and condition, the report draws from nationally representative surveys, administrative claims, clinical registries and vital statistics to present data on disease burden, quality of care and mortality trends.
Key findings on risk factors include:
* Hypertension affects 1 in 2 U.S. adults with little change between 2009 and 2023.
* Diabetes prevalence and mortality are increasing, especially among young adults and low-income populations.
* Obesity has reached epidemic levels, affecting more than 40% of U.S. adults.
* LDL-cholesterol control is falling short. Most high-risk adults fail to meet LDL targets and statin use remains limited, underscoring gaps in implementation.
* Smoking rates have declined nationally but remain twice as high among low-income adults, with e-cigarette use rising among younger adults.
Key findings on conditions include:
* CHD affects over 20.5 million U.S. adults. Rates have risen since 2019, with only 1 in 2 adults receiving optimal medical therapy.
* AMI hospitalizations have declined in the U.S. from 2004 to 2010 but have recently risen for younger adults.
* HF affects about 6.7 million U.S. adults. HF-related mortality rates declined from 1999 to 2011 but have reversed in trajectory with sharp increases during the COVID-19 pandemic.
* PAD affects approximately 1 in 14 U.S. adults. Nearly half of PAD patients undergoing peripheral vascular interventions are discharged without full guideline directed medical therapy.
* Stroke is the fifth leading cause of death in the U.S, accounting for nearly 1 in 20 deaths in 2023. Quality of care has improved over the past two decades, but opportunities for improvement remain.
Persistent disparities by race, geography and socioeconomic status emerged as a central finding across all risk factors and conditions, underscoring urgent gaps in prevention and care. The report also highlights critical gaps where data are incomplete, pointing to opportunities for innovation, policy and discovery.
"If we want a healthier future, we must understand how far we have come, how far we have yet to go and what stands in our way," said Harlan M. Krumholz, MD, SM, Editor-in-Chief of JACC. "By putting data at the center of JACC's collective awareness, we aim to help the cardiovascular community, including clinicians, researchers, policymakers and the public, see the landscape clearly and chart a more effective path forward."
Each edition will provide a benchmark to assess advancement towards better CVD outcomes, greater equity and stronger systems of care. The assessments will identify areas to expand the report's scope to include additional conditions and international populations.
The report was led by Rishi Wadhera, MD, MPP, and Lesley H. Curtis, PhD, and reflects a multi-institutional collaboration drawing on national surveys, registries and administrative data. It will be part of a JACC print issue in March 2026 that will include a series of complementary JACC Data Reports examining key dimensions of cardiovascular health and health care, including access to care, diet, sleep, physical activity and related behavioral and social factors.
For an embargoed copy of JACC Cardiovascular Statistics 2026, contact JACC Media Relations Manager Olivia Walther at owalther@acc.org.
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The American College of Cardiology (ACC) is a global leader dedicated to transforming cardiovascular care and improving heart health for all. For more than 75 years, the ACC has empowered a community of over 60,000 cardiovascular professionals across more than 140 countries with cutting-edge education and advocacy, rigorous professional credentials, and trusted clinical guidance. From its world-class JACC Journals and NCDR registries to its Accreditation Services, global network of Chapters and Sections, and CardioSmart patient initiatives, the College is committed to creating a world where science, knowledge and innovation optimize patient care and outcomes. Learn more at www.ACC.org or connect on social media at @ACCinTouch.
The ACC's JACC Journals rank among the top cardiovascular journals in the world for scientific impact. The flagship journal, the Journal of the American College of Cardiology (JACC) -- and specialty journals consisting of JACC: Advances, JACC: Asia, JACC: Basic to Translational Science, JACC: CardioOncology, JACC: Cardiovascular Imaging, JACC: Cardiovascular Interventions, JACC: Case Reports, JACC: Clinical Electrophysiology and JACC: Heart Failure -- pride themselves on publishing the top peer-reviewed research on all aspects of cardiovascular disease. Learn more at JACC.org.
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Original text here: https://www.acc.org/About-ACC/Press-Releases/2026/01/12/15/50/JACC-Issues-Inaugural-Report-on-State-of-US-Cardiovascular-Health
[Category: Medical]
International Team Funded by National MS Society and MS Canada Reports on How Nerve Cells May Be Damaged in Models of MS
NEW YORK, Jan. 13 -- The National Multiple Sclerosis Society issued the following news:
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International Team Funded by National MS Society and MS Canada Reports on How Nerve Cells May Be Damaged in Models of MS
An expert team funded by the National MS Society and MS Canada reports on a pathway for damage to grey matter (nerve cells) in a model of MS-like disease in mice.
In progressive MS, B cells accumulate in the protective membrane around the brain (called the meninges). The international team - representing the United States, Canada, Germany, and Switzerland - performed a series of
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NEW YORK, Jan. 13 -- The National Multiple Sclerosis Society issued the following news:
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International Team Funded by National MS Society and MS Canada Reports on How Nerve Cells May Be Damaged in Models of MS
An expert team funded by the National MS Society and MS Canada reports on a pathway for damage to grey matter (nerve cells) in a model of MS-like disease in mice.
In progressive MS, B cells accumulate in the protective membrane around the brain (called the meninges). The international team - representing the United States, Canada, Germany, and Switzerland - performed a series ofexperiments in mice with MS-like disease, spinal fluid obtained from people with MS via autopsy, and MRI scans of people with progressive MS. The team found evidence in mice and humans that B cells contribute to certain structures in the meninges that are associated with increased damage to nerve cells in MS.
he group also shows that remibrutinib - an experimental "BTK inhibitor" in trials in people with MS - prevented progression of MS-like disease in mouse models. Other BTK inhibitors are in the pipeline, with mixed results.
Learn more...
Read more, from the University of Toronto
Read more, from MS Canada
Watch a webinar on treatments being tested in people with progressive MS.
"Lymphotoxin-dependent elevated meningeal CXCL13:BAFF ratios drive grey matter injury" by Ikbel Naouar, Andrei Pangan, Michelle Zuo, Syed Ali Raza, Kevin Champagne-Jorgensen, Jyot Patel, Angela Wang, Annie Pu, Lesley Ward, Jennifer S Y Ahn, Faizah N Sayeed, Jingwen Zhu, Elisabeth Possnecker, Bruno Cenni, Barbara Nuesslein-Hildesheim, Jeffrey L Browning, Anne-Katrin Probstel, Daniel S Reich, Jennifer L Gommerman, Valeria Ramaglia is published in Nature Immunology Volume 27, pages 48-60 (2026).
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About Multiple Sclerosis
Multiple sclerosis is an unpredictable disease of the central nervous system. Currently there is no cure. Symptoms vary from person to person and may include disabling fatigue, mobility challenges, cognitive changes, and vision issues. An estimated 1 million people live with MS in the United States. Early diagnosis and treatment are critical to minimize disability. Significant progress is being made to achieve a world free of MS.
About the National Multiple Sclerosis Society
The National MS Society, founded in 1946, is the global leader of a growing movement dedicated to creating a world free of MS. The Society funds cutting-edge research for a cure, drives change through advocacy and provides programs and services to help people affected by MS live their best lives. Connect to learn more and get involved: nationalmssociety.org, Facebook, X (formerly known as Twitter), Instagram, YouTube or 1-800-344-4867.
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Original text here: https://www.nationalmssociety.org/news-and-magazine/news/nerve-cell-damage-ms
[Category: Health Care]
HIDI Releases Fourth-quarter FFY 2025 Inpatient, Outpatient Databases
JEFFERSON CITY, Missouri, Jan. 13 -- The Missouri Hospital Association posted the following news:
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HIDI Releases Fourth-quarter FFY 2025 Inpatient, Outpatient Databases
The fourth-quarter federal fiscal year 2025 inpatient and outpatient databases, including HIDI-reporting hospitals in Missouri, Illinois and Kansas City, Kan., now are available for download to subscribers of the Premier Data Package on HIDI Advantage(R).
The databases consist of a patient-level limited dataset, including all HIDI-reported discharges and visits to hospitals. Files are delivered as both text files and Microsoft
... Show Full Article
JEFFERSON CITY, Missouri, Jan. 13 -- The Missouri Hospital Association posted the following news:
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HIDI Releases Fourth-quarter FFY 2025 Inpatient, Outpatient Databases
The fourth-quarter federal fiscal year 2025 inpatient and outpatient databases, including HIDI-reporting hospitals in Missouri, Illinois and Kansas City, Kan., now are available for download to subscribers of the Premier Data Package on HIDI Advantage(R).
The databases consist of a patient-level limited dataset, including all HIDI-reported discharges and visits to hospitals. Files are delivered as both text files and MicrosoftAccess database files. The files are located in "Premier Subscriptions/Inpatient and Outpatient Limited Datasets" and are organized in the following categories.
* Q4 FFY2025, Inpatient
* Q4 FFY2025, Outpatient Classified
* Q4 FFY2025, Outpatient Unclassified
Hospitals interested in subscribing to the 2026 HIDI Premier Data Package should review the package information. Current subscribers with questions about downloading files should contact HIDI.
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About Missouri Hospital Association
The Missouri Hospital Association is a nonprofit association in Jefferson City that represents 136 Missouri hospitals. In addition to representation and advocacy on behalf of its membership, the association offers continuing education programs on current health care topics and seeks to educate the public about health care issues.
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Original text here: https://www.mohospitals.org/newsroom/hidi-releases-fourth-quarter-ffy-2025-inpatient-outpatient-databases
[Category: Health Care]
CNBC/NRF Retail Monitor's December Data Shows Strong Holiday Season Spending
WASHINGTON, Jan. 13 -- The National Retail Federation posted the following news release on Jan. 12, 2026:
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CNBC/NRF Retail Monitor's December Data Shows Strong Holiday Season Spending
Retail sales saw strong growth in December, putting holiday season results in line with the National Retail Federation's forecast for record spending, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by NRF.
"December Retail Monitor data saw a sharp surge in growth as consumers continued prioritizing holiday spending on family and friends," said NRF President and CEO
... Show Full Article
WASHINGTON, Jan. 13 -- The National Retail Federation posted the following news release on Jan. 12, 2026:
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CNBC/NRF Retail Monitor's December Data Shows Strong Holiday Season Spending
Retail sales saw strong growth in December, putting holiday season results in line with the National Retail Federation's forecast for record spending, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by NRF.
"December Retail Monitor data saw a sharp surge in growth as consumers continued prioritizing holiday spending on family and friends," said NRF President and CEOMatthew Shay. "Continued economic momentum helped land 2025 holiday sales near the top of NRF's forecast, reaffirming that consumers remain on solid footing."
Based on Retail Monitor data, 2025 holiday sales from Nov. 1 through Dec. 31 grew 4.1%. That compares with NRF's forecast that holiday sales would increase between 3.7% and 4.2% from the same period in 2024 to just over $1 trillion. The forecast is based on U.S. Census Bureau data, but Census numbers for December have not yet been released.
Total retail sales, excluding automobile dealers and gasoline stations, were up 1.26% seasonally adjusted month over month and up 3.54% unadjusted year over year in December, according to the Retail Monitor. That compared with increases of 0.12% month over month and 4.53% year over year in November.
The Retail Monitor calculation of core retail sales (excluding restaurants in addition to auto dealers and gas stations) was up 1.6% month over month in December and up 3.58% year over year. That compared with a slight decrease of 0.04% month over month and an increase of 4.66% year over year in November.
A late Thanksgiving pushed Cyber Monday into December in 2025, so an additional busy day of holiday spending is included in December's data. December's numbers brought total 2025 sales as calculated by the Retail Monitor to an increase of 4.93% over 2024 and core sales to an increase of 5.08%.
Unlike survey-based numbers collected by the Census Bureau, the Retail Monitor uses actual, anonymized credit and debit card purchase data compiled by Affinity Solutions and does not need to be revised monthly or annually.
Chart: CNBC/NRF Retail Monitor
powered by Affinity Solutions
M/M, seasonally adjusted
December sales were up in six out of nine categories on a yearly basis, led by clothing stores, sporting goods stores and digital products and were up across the board on a monthly basis. Specifics from key sectors include:
* Clothing and accessories stores were up 2.05% month over month seasonally adjusted and up 6.11% year over year unadjusted.
* Sporting goods, hobby, music and book stores were up 3.52% month over month seasonally adjusted and up 5.16% year over year unadjusted.
* Digital products (such as electronic books and games) were up 0.98% month over month seasonally adjusted and up 3.6% year over year unadjusted.
* General merchandise stores were up 2.9% month over month seasonally adjusted and up 3.42% year over year unadjusted.
* Grocery and beverage stores were up 0.33% month over month seasonally adjusted and up 2.85% year over year unadjusted.
* Health and personal care stores were up 1.92% month over month seasonally adjusted and up 2.5% year over year unadjusted.
* Electronics and appliance stores were up 2.28% month over month seasonally adjusted but down 0.09% year over year unadjusted.
* Furniture and home furnishings stores were up 0.33% month over month seasonally adjusted but down 0.82% year over year unadjusted.
* Building and garden supply stores were up 1.11% month over month seasonally adjusted but down 5.3% year over year unadjusted.
To learn more, visit nrf.com/nrf/cnbc-retail-monitor.
As the leading authority and voice for the retail industry, NRF provides data on retail sales each month and also forecasts annual retail sales and spending for key periods such as the holiday season each year.
As the leading authority and voice for the retail industry, NRF provides data on retail sales each month and also forecasts annual retail sales and spending for key periods such as the holiday season each year.
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About NRF
The National Retail Federation passionately advocates for the people, brands, policies and ideas that help retail succeed. From its headquarters in Washington, D.C., NRF empowers the industry that powers the economy. Retail is the nation's largest private-sector employer, contributing $5.3 trillion to annual GDP and supporting more than one in four U.S. jobs -- 55 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job, educating, inspiring and communicating the powerful impact retail has on local communities and global economies. nrf.com
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Original text here: https://nrf.com/media-center/press-releases/cnbc-nrf-retail-monitor-s-december-data-shows-strong-holiday-season-spending
[Category: Business]
American Society of Pension Professionals & Actuaries: Reducing Exposure to Forfeiture Lawsuits - A How-to
ARLINGTON, Virginia, Jan. 13 -- The American Society of Pension Professionals and Actuaries issued the following news on Jan. 12, 2026:
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Reducing Exposure to Forfeiture Lawsuits: A How-to
By Paul Mulholland
Many retirement plan fiduciaries have been sued for fiduciary breaches due to their handling of forfeited employer contributions in recent years.
Legal Theory
David Levine, a principal at the Groom Law Group, explains that many employers will offer employer contributions to a plan, often in the form of a match. Many sponsors have vesting schedules for these contributions, and if an
... Show Full Article
ARLINGTON, Virginia, Jan. 13 -- The American Society of Pension Professionals and Actuaries issued the following news on Jan. 12, 2026:
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Reducing Exposure to Forfeiture Lawsuits: A How-to
By Paul Mulholland
Many retirement plan fiduciaries have been sued for fiduciary breaches due to their handling of forfeited employer contributions in recent years.
Legal Theory
David Levine, a principal at the Groom Law Group, explains that many employers will offer employer contributions to a plan, often in the form of a match. Many sponsors have vesting schedules for these contributions, and if anemployee leaves before being fully vested, all or some of these contributions are forfeited.
What happens to these forfeited contributions can vary from plan to plan. Sometimes they can be used to defray plan expenses, and they can be used to fund employer contributions to other participants.
Levine says that plaintiff attorneys have argued that the funds should be used for plan expenses, since this is generally in the financial interest of the participants. Defense attorneys have typically countered that this practice is permitted under the law and isn't a fiduciary decision.
Jamie Fleckner, a partner at Goodwin, says that plaintiffs have appealed to the "exclusive purpose language" of the law and say that the plan must be operated for the sole benefit of the participants. Since defraying plan expenses is generally better for them, plaintiffs argue that using forfeitures on offsetting contributions is effectively prohibited, even when the plan document provides for it as an option.
Cases
The defense side has generally faired pretty well in these cases. Levine says that some have moved past a motion to dismiss, but "none have gone all the way through," and "a lot of them have been dismissed."
Fleckner concurs and says that the "courts are generally rejecting" the plaintiffs' legal theory.
For example, in a case against WPP which was dismissed, the court explained that the plaintiffs incorrectly interpreted the "duty of loyalty to create a benefit that the Plan document itself does not guarantee," in this case, using forfeitures to pay administrative expenses.
That ruling went on to say that "because the touchstone of ERISA is the plan document, the fiduciary duty is fulfilled where the fiduciary ensures that participants have received their promised benefits."
Amicus Brief
In July, the Department of Labor (DOL) filed an amicus brief in support of one plan sponsor.
This brief explained that "the Secretary's view that a fiduciary's use of forfeited employer contributions in the manner alleged in this case, without more, would not violate ERISA."
It went on to say that "The established understanding for several decades has been that defined contribution plans [...] may allocate forfeited employer contributions to pay benefits for remaining participants rather than using those funds to defray administrative expenses."
Levine described the amicus brief as a "big deal" because "historically the DOL has not weighed in to defend fiduciaries in litigation."
Preparation
"You can't unfortunately eliminate the risk of litigation," Fleckner says, but it can be mitigated.
"The plan language is key in these cases," Fleckner says. "Cases where defendants have done the worst are cases that prohibit the use of forfeitures for offsetting employer contributions." Courts will look "at what the plan requires."
Fleckner recommends that fiduciaries make sure the plan document is "consistent with what company and fiduciaries are looking for." Fiduciaries should look holistically at the document, and "if you want to offset, either mandate that or allow that."
Levine makes a similar recommendation.
Sponsors should look at their documents and evaluate their process to see if the two align. Levine says, "it's a consideration" if sponsors would like to "clarify what the hierarchy is," when it comes to which comes first, defraying fees or offsetting contributions.
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Paul Mulholland, Content Writer and Reporter
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Original text here: https://www.asppa-net.org/news/2026/1/reducing-exposure-to-forfeiture-lawsuits-a-how-to/
[Category: Human Resources/Personnel]
