ERISA Lawyer

An ERISA lawyer acts against a breach of fiduciary duty law under the Employee Retirement Income Security Act of 1974 (ERISA). ERISA is a federal law that established legal guidelines for private pension plan administration and investment practices, and is the nationally recognized leader in this area.

ERISA lawyers advise participants, employees, and businesses concerning their rights and duties under ERISA. ERISA lawyers have effectively led clients through the extraordinarily complex ERISA litigation process by serving as counsel in decisive ERISA breach of fiduciary duty cases.

While 401(k) and ESOP plans were first implemented as part of a variety of retirement programs offered to employees, they have become the primary source of retirement income offered by employers in the United States. For this reason, it is extremely critical for employers to practically and dutifully manage these plans as required by ERISA in order to ensure that the investments offered to employees remain financially sound.

ERISA lawyers are aware that fiduciary duties are extremely important and have been described as "the highest known to law." This has caused many employers to carefully delegate their fiduciary duties in this regard. ERISA lawyers are successful in reminding employers that the purpose of these plans is to allow employees to save for their retirement. ERISA lawyers can help retrieve funds from employers that have abandoned or neglected their strict fiduciary duties under ERISA.

ERISA lawyers state that employer failure has been predominantly devastating where such employers have invested a substantial amount of participant plan assets in their own company stock. ERISA allows employers to offer and match in company stock, and where employers invested in company stock on the one hand, and engaged in highly risky and inappropriate conduct on the other, losses have been devastating causing ERISA lawyer litigation.

The numbers of companies that are accused of securities fraud annually are in the hundreds, and equally large numbers seek bankruptcy protection. ERISA lawyers are aware that in certain circumstances, an ERISA action may be appropriate.

If plan fiduciaries know that a plan investment is unwise, and fail to take action to protect the plan from losses resulting from the investment, the fiduciaries may have breached their duties under ERISA. If this is the case, an ERISA lawyer can help you with your claim. Contact an experienced ERISA lawyer today to successfully expedite your ERISA case.