ERISA Law Clinic Chicago
Prior to ERISA workers were not given a assurance that the pensions they earned throughout their careers would be there when they retired. ERISA introduced reporting and disclosure requirements as well as fiduciary standards and the retirement benefits that vest, and created the Pension Benefit Guaranty Corporation. Litigating ERISA matters requires solid knowledge of the law, expert advocacy, and cutting edge insight. Loftus & Eisenberg, in partnership with C-K Law Group, is delighted to offer this unique opportunity.Practice Areas
ERISA lawyers work with clients on issues relating to employee benefits including the design and drafting of retirement plans for employees, such as defined benefit, money purchase pensions, 401(k) plans as well as health and welfare plans. They also provide advice on plan operations and regulatory and reporting issues as well as handle the claims and disputes that arise from these plans. Disputes and claims that involve plans that are governed by ERISA can result in allegations of breaches of fiduciary duties as well as claims relating to the denial of life, disability or retirement benefits; and lawsuits over the distribution or sale of plan assets. This practice area is often built around the concept of a contingent fee. ERISA litigation practice groups frequently work on complicated cases involving multiple parties, including large financial institutions and private equity funds. They also serve as counsel for a wide range of corporate transactions. They also offer advice on investment funds as well as prohibited transactions and tax issues. They can also be asked to provide advice on employee compensation and benefits in connection with mergers, purchases and securities transactions.ERISA Disputes
ERISA settlements for class actions continued in 2024, though they trended downward in comparison to 2023. These settlements typically involve a settlement of future benefits and any back benefits owed to the plaintiff, plus reasonable attorney fees. Our attorneys can assist with disputes that involve excessive fees charged by an advisor or recordkeeper or investments that led to deficits within a pension plan. These claims are usually filed as derivative actions. This is a more efficient option to litigation involving class actions. For example, successfully defended a manufacturer of technology in a possible class action under the ERISA law regarding redemptions of company shares that were held by an employee stock ownership plan. The case involved a major securities law issue and was one of a handful of ERISA cases to make it to trial in recent years. Also, obtained a dismissal of an ERISA case involving retiree health insurance benefits on constitutional standing grounds. On appeal the decision was affirmed. This was a first of its kind decision.ERISA Litigation
ERISA class actions continue to be filed, however at a lower rate than in the past. Settlements are roughly the same. Often, ERISA-based long term disability cases are resolved through mediation or settlement conferences in which both parties (after much discussion and and counter-offers) finally agree on a claim amount. Our ERISA litigation team has a wealth of experience in representing plan sponsors, fiduciaries and third party administrators as well as insurance companies, in a wide range of group and individual issues. Representing a global manufacturer in a class action lawsuit that claimed fiduciary breach over permitting employees' 401(k), account contributions to be invested in company stock. Successfully removing claims that claimed excessive fees. Informing a public company regarding a complex ERISA based stock drop case. The defense of these kinds of claims requires a sophisticated legal understanding and in-depth knowledge of ERISA and federal court practices. Our team consists of ERISA litigators and trusted employee benefit advisers, as well as accomplished trial lawyers. We combine their expertise to assist in resolving complex ERISA disputes or class actions.ERISA Appeals
ERISA rules require insurers and plans to provide a clear transparent appeals process within specific timeframes. The administrative appeals documents will be the basis of any legal action. It is therefore important to make the strongest argument that is possible. Our Chicago ERISA lawyers have assisted clients get disability benefits by drafting persuasive appeal letters, gathering strong evidence and submitting complete medical records. We also assist people pursue legal action by filing a lawsuit against the insurance company. Our team has vast experience in dealing with all types of ERISA cases. We are adept at negotiating settlements, defending class certifications, and taking cases to court when needed. We have secured a number of substantial settlements for our clients in both long-term and short-term disability claims. We have also successfully defeated several class certifications and argued several significant cases to the U.S. Supreme Court. ERISA litigation can be a bit complicated. A knowledgeable attorney can assist you in getting the benefits you deserve.blogger |
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