ERISA LITIGATION

ERISA LITIGATION

ERISA LITIGATION

The Employee Retirement Income Security Act of 1974 (ERISA) protects participants in employee pension plans and other benefit plans offered by employers.

ERISA governs various types of retirement plans including pension plans, 401k plans and employee stock plans, and many medical, disability, and other benefit programs. Under ERISA, plan participants and beneficiaries may seek redress for breaches of fiduciary responsibility, denial of benefits, or failure to provide adequate disclosures of plan terms or benefit changes.

ERISA requires employers who sponsor retirement plans and any other entities that exercise control and discretion over plan assets (known as plan “fiduciaries”) to act prudently, loyally, and with the highest regard for the interests of the employees who participate in the plans when it comes to selecting investment options and investing plan assets. When these ERISA fiduciaries breach their duties, whether by investing plan assets imprudently, charging excessive fees, or engaging in self-serving transactions, plan participants can seek to hold them accountable for losses the plan suffers as a result.

Our firm has extensive experience in this type of ERISA litigation. We have represented plan participants and beneficiaries in numerous ERISA class actions, including claims that:

  • 401k plans were being improperly charged excessive fees;
  • 401k plans were improperly designed to benefit the plan’s sponsor at the expense of participants;
  • ERISA fiduciaries imprudently invested plan assets causing losses to the plan participants.

If you believe that you or your retirement plan has been harmed by any these types of practices, please contact us. We can investigate your potential claim and advise you about your rights under ERISA.

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FAQ

Yes. Please use our contact form to request a free case evaluation. Tell us your story, and one of our lawyers will respond to tell you if we think we can help.

We work almost all of our cases under contingent fee arrangements. If we take your case under a contingent fee arrangement, you won’t owe our firm any legal fees unless we are able to recover money for you.

Our contingent fee is either based on a percentage of the amount we recover for our client (which generally ranges from one-third of the recovery up to 40%) or the amount of work we perform on your case, multiplied by our current hourly rates. The percentage we will charge in your case depends on the type of case, when your case resolves, and whether you request us to advance litigation costs (including filing fees, postage, expert witness fees, etc.). Generally, the percentage is higher if we are advancing litigation costs and your case does not resolve early.

In most litigation matters, it is extremely difficult – practically impossible – to predict how long or how many hours will it take to resolve a particular case. Every case is different in terms of the complexity. For instance, a simple breach of contract matter is likely to get resolved significantly faster than a complicated lawsuit involving multiple parties, numerous claims, complex issues of law, and extensive discovery. The other parties’ cooperation, the attorneys’ schedules, as well as the number of other cases on the court’s docket are also the factors.

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Practice Chairs
joe peiffer
Joseph C. Peiffer
Managing Shareholder