Many attorneys seize up when they hear “ERISA.” I don’t. If you have a concern about your pension payment, you should contact a pension lawyer.
The Employee Retirement Income Security Act, or ERISA, is a complex and comprehensive federal law that regulates pension plans and other employee benefit plans. ERISA was passed in 1974 because companies were underfunding employee pension plans, or using those funds as a piggybank. ERISA requires that anyone who exercises discretionary authority or control over the management of a plan must act as a fiduciary – the highest duty of conduct under the law – on behalf of the plan participants and beneficiaries. Unfortunately, fifty years later, employees are still being denied the full retirement benefits which they worked so hard to earn.
Some common ERISA claims include:
- Reduction in pension benefits, or cutbacks.
- Failure to properly calculate employee service time or vesting date.
- Failure to disclose complete information to plan participants or beneficiaries.
- Excessive or inappropriate fees or charges.
- Failing to act with loyalty and prudence on behalf of the plan participants and beneficiaries.
- Self-dealing on behalf of a plan fiduciary.
- Failing to comply with the terms of the employer’s own plan.
- Retaliation against employees for exercising their ERISA rights.
ERISA claims call for a diligent and dedicated pension lawyer. If you believe you have been denied benefits which you have earned, call Charles Stiegler today at 504-267-0777, or contact me here.