Nordstrom store in Baltimore, MD
Nordstrom has cost its 104,811 workers millions in savings because the retailer mismanages its $3.4 billion 401(k) plan by overpaying for administrative services and using money forfeited by former employees for its own benefit, allege employees in a class action lawsuit filed this week. The employees have filed suit under the Employee Retirement Income Security Act (ERISA) for breach of ERISA's fiduciary duties.
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