ERISA lawsuits generally happen when an employee believes that his or her employer and/or their fiduciaries have violated employee benefits laws. In some situations, failure to properly invest funds or charging excessive fees can result in millions of dollars in losses. In other cases, an employer may be denying benefits to an employee that he or she deserves.
The attorneys at the Law Offices of J. Price McNamara, we are committed to helping Arlington, Texas, employees who have been wronged by their employers. If you feel that you have an ERISA claim involving your employer benefits, you need experienced legal representation.
ERISA stands for the Employment Retirement Income Security Act of 1984. This is a federal law that sets the minimum standards for employee pension plans and benefits in private industries such as healthcare, retirement, and stock options. This law does not require employers to provide these benefits to employees but does set specific requirements for those that are overseeing the plans (called fiduciaries). ERISA also allows employees the right to file lawsuits if there is a breach in fiduciary duties.
Under ERISA laws, employers may not interfere with their employees’ rights under their benefits plan. If an employer violates ERISA, the employee can file a lawsuit to attempt to recover the money that was lost from their plan. Examples of ERISA violations may include, but are not limited to, the following:
This is a distinct category of violations under ERISA laws. It is designed to invest mainly in employer securities. One of the most common violations under ERISA law is an incorrect valuation of securities when selling, valuing, purchasing, or distributing stock. Other violations may include failure to provide employees with benefits such as the ability to diversify balances of accounts, voting rights, and rights to sell stock shares.
If an employee is denying you benefits, or you are having trouble claiming your pension benefits, you need to contact an experienced ERISA attorney as quickly as possible. ERISA laws are complex and confusing, and you need to be certain that the attorney you hire is experienced in ERISA laws in your state. The attorneys at the Law Offices of J. Price McNamara will ensure that you meet the appropriate deadlines and file the correct documents pertaining to your claim. Our attorneys will ensure that your rights are protected, and you receive the compensation that you are entitled to if you have been wronged or injured by your employer. Contact us today to schedule a consultation at one of our conveniently located Texas offices.
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