BUSINESS

Big Banks Use 401(k) Plan That Landed AOL In Hot Water

02/11/2014 08:21 am ET | Updated Feb 11, 2014

Citigroup Inc., J.P. Morgan Chase & Co. , and Goldman Sachs Group Inc. make lump-sum payouts to their employees’ 401(k) plans, the banks confirmed to MarketWatch on Monday, using a similar strategy to the one AOL attempted to impose before it got in hot water last week.

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