Allegation
Institution Type
When employees leave a company before becoming fully vested, they may forfeit some of the employer contributions made to their retirement accounts. Those forfeited amounts generally remain available to the plan.
We are investigating whether ADM used forfeited employer contributions to reduce their employer contributions to the 401(k) plan instead of using them to reduce the amounts plan participants were required to pay for plan administrative expenses from their retirement accounts, and whether ADM’s practices violated a federal law called the Employee Retirement Income Securities Act (ERISA).
If you or your spouse are current or former employees of Archer Daniels Midland Company and participate in an ADM 401(k), ESOP, or other defined-contribution retirement plan, we would like to hear from you.
There is no cost or obligation to submit information. The information you provide will help us evaluate whether you may have a claim.
Our law firm is investigating the administration of the Archer Daniels Midland Company retirement plans, including the ADM 401(k) Plan and Employee Stock Ownership Plans, and whether their use of forfeited employer contributions caused participants to pay administrative expenses that could have been paid with plan forfeitures.
Archer Daniels Midland Company (ADM) is a global agricultural and food-processing company headquartered in Chicago, Illinois. The company processes crops and produces ingredients, food products, animal nutrition, and other agricultural products. ADM operates a large global network of processing facilities, transportation infrastructure, and supply-chain operations. The company serves customers across the food, beverage, animal nutrition, and industrial markets.
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