North Carolina Federal Judge: Plan’s Profits Will Be Determined In Aggregate
Mealey's (March 14, 2016, 12:42 PM EDT) -- CHARLOTTE, N.C. — On remand from the Fourth Circuit U.S. Court of Appeals, a North Carolina federal judge on March 11 concluded that an accounting of profits earned by Bank of America Corp. (BAC) should be determined in the aggregate and not based upon profits earned by BAC with regard to the assets of individual participants in a BAC 401(k) plan (William L. Pender, et al. v. Bank of America Corporation, et al., No. 05-238, W.D. N.C.).