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Baton Rouge ERISA Attorney

Baton Rouge ERISA Attorney

Many people rely on their employers’ 401(K) or ESOP retirement plan to give them financial security once they retire. The Employee Retirement Income Security Act of 1974, also known as ERISA, sets standards that must be followed by the private industry for health and retirement benefits. Although employers are not required by the act to offer these benefits, if they do, they must act in the best interest of their employees and not themselves.

ERISA laws cover retirement, health, life, and disability benefits, just to name a few, and ensures that those responsible for managing the plans to meet specific standards. The provisions in the law also aim to protect the funds in the plan so that participants who need the benefits and qualify can receive them.

Because ERISA is a federal law, any disputes that arise with the provided benefits must be handled in federal court rather than a local or state court. Claims can be brought against ERISA fiduciaries and companies for the following:

  • Failure to operate retirement plans for the exclusive purpose of providing participants and their beneficiaries benefits.
  • Engaging in transactions with plan assets that are prohibited by ERISA.
  • Failure to appropriately manage the assets of the plan.
  • Continuing to promote and/or offer their own company’s stock as an investment option of the plan, and then holding and investing employee contributions in the stock when the stock was not an appropriate investment option due to the financial situation of the company.
  • Failure to disclose the company’s business, operations, and financial results to the employees which will encourage beneficiaries and employees to make investments in the company stock.
  • Failure to take action to avoid any losses to the company ESOP and 401(K) plans.
  • Failure to avoid conflicts of interest when managing plan assets.
  • Breaching the fiduciary duty.

Filing an ERISA Claim

If you have been injured or are sick and unable to work or feel that your company has violated any of the benefits, you may be entitled to file an ERISA claim. An experienced Baton Rouge ERISA claims attorney will be able to guide you through the complex process and increase the likelihood of a favorable outcome.

Although the claims process may seem easy enough, it can be much more complicated than it appears. You will likely begin the initial application process through your human resources department, but if you are denied, the procedures get much more complex. Even if you are approved, you will likely be reviewed every six to 12 months and have to prove that you are still eligible for your benefits.

Contact a Baton Rouge ERISA Attorney Today

If you have applied for short or long term disability benefits and your claim has been denied, you need legal representation to ensure that your rights are protected. The attorneys at the Law Offices of J. Price McNamara have the experience to help you get the settlement for your ERISA claim that you deserve, or to represent you in trial if necessary. Contact our office today to schedule a consultation.

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