Have you been denied a promised benefit by your employer? Do you have reason to believe a company you work for is mismanaging pension funds, embezzling money from employees or improperly investing in company stock? Are you worried about major losses in your 401K or large fees on your retirement fund? In these and other situations, a law called the Employee Retirement Income Security Act (ERISA) may protect you and provide you, and your co-workers, with a legal remedy.
Zamansky LLC represents individuals who were promised employment benefits in connection with pensions and health insurance. Zamansky LLC attorneys also represent groups of workers who all suffered similar losses due to dishonest employers as well as institutional investors whose funds lost money as a result of wrongdoing or fraud. If you think your benefits are at risk or have already suffered losses, you may very well need an ERISA lawyer. Zamansky LLC is here to help.
Do You Need an ERISA Attorney to Help You?
The Employee Retirement Income Security Act establishes a broad array of protections to workers, including imposing a fiduciary duty on managers of employee pension plans. The protections put forth in ERISA are extensive and employees who face losses and believe their employer or plan manager was at fault are covered in a lot of different situations.
If you have a benefits plan through a private company, ERISA gives you a right to sue for benefits and/or breach of fiduciary duty. To determine if you could have a claim, consider the following:
- Do you work for a private employer? ERISA doesn’t usually cover churches or government employers.
- Has your employer voluntarily established a pension or health plan? The Act covers virtually all types of pension plans, including 401Ks, other defined contribution plans and defined benefit plans. The ERISA does not cover plans established or maintained only to comply with disability, workers’ compensation and unemployment laws.
- Have plan managers failed to act in your best interests? All managers and advisors have a fiduciary duty, which means they have the highest duty under the law to act on the behalf of plan participants.
- Have you suffered significant investment losses in a pension plan and/or due to investment of company stock? If so, you could have a claim if you weren’t warned of the risks, if investments were imprudent or not monitored or if company officers were responsible for a fall in company stock prices.
- Have you been fired to prevent you from obtaining any promised benefits or have you been fired for raising concerns about ERISA violations? The Act has whistleblower protections as well as laws preventing the termination of workers for the purposes of avoiding paying benefits.
- Have you been provided with plan documents and information about pension plans and other benefits? ERISA requires disclosures and plan information be provided to pension plan participants.
Answering these questions are a good start to help you determine if you need help from ERISA law lawyers, but there are many other situations where you could have a claim under ERISA. If you believe you’ve been denied any workplace benefit or suffered any loss of pension assets due to an employer or pension plan manager’s actions, call Zamansky LLC today to see if a lawyer can help you with an ERISA claim.