Hon. Stephen J. Murphy, III commenting on Class Counsel in Slavens v. Meritor Inc.
Over $1 Billion Recovered
It's well-known that pay inequality is pervasive in the workplace. But how do you know if you are receiving equal pay for doing the same job as your co-corkers? Can I ask my co-workers how much they make? Have you ever suspected that your employer isn't paying you as...
A person who is leaving a place of employment, either because of a termination or resignation, expects that they will receive their pay for the hours worked through their last day. While some employers might try to avoid having to pay those workers, there are laws...
One of the key responsibilities that employers have to their employees under the Employee Retirement Income Security Act (ERISA) is their fiduciary duty to look after their retirement plan contributions. According to the U.S. Department of Labor (DOL), which is...
Last month, the U.S. Office of Personnel Management (OPM) announced that it is raising the minimum wage for civilian employees of the federal government to $15.00 an hour. The increase affects some 67,000 people who work in the U.S. across multiple agencies and...
Planning for retirement is something everyone should do to ensure peace of mind. Yet, sometimes those plans fail to work out for reasons beyond your control. If those in charge of your ERISA-protected retirement plan do not do the job they are paid for, you may suffer...
An ERISA fiduciary’s duty does not end when the fiduciary selects plan investments at the outset. Rather, “‘a fiduciary normally has a continuing duty of some kind to monitor investments and remove imprudent ones.’”
No matter which industry you are employed in, you are entitled to fair compensation for the work that you do. In fact, this is enshrined in federal law. The provisions of the Fair Labor Standards Act (FLSA) dictate the minimum wage requirements that employers are...
When you signed your employment contract, you had an understanding that you would work hard, and that your employer would compensate you for the work that you accomplish. Unfortunately, all too often employers shortchange their employees by failing to pay them fully...
As of year-end 2020, the Plan had net assets of more than $6 billion. This gave the Plan had substantial bargaining power regarding the fees and expenses that were charged against participants’ investments. The Plan’s fiduciaries failed to use this bargaining power to the Plan’s advantage. Instead, Plan participants were saddled with above-market recordkeeping and administrative fees.
Thousands of pension plans are using outdated mortality tables to determine the value of pension benefits they are required to pay. Pension payments and annuities calculated using out-of-date mortality tables are generally worth less than benefits calculated on the basis of updated mortality data. Using old tables reduces the present value of benefits because these tables predict that people will die at a faster rate than the new tables do.