Could Merrill Lynch be on the hook for millions in deferred pay?
The costly question may get answered in federal court. That’s because a former Merrill Lynch advisor, Kelly Milligan, is suing Merrill and parent company Bank of America for forcing advisors to forfeit deferred compensation when they quit to work elsewhere. The forced forfeiture is a violation of a federal law governing retirement plans, claims Milligan’s lawsuit, which was filed in a federal court in North Carolina on April 30.
Milligan…
