Hon. Stephen J. Murphy, III commenting on Class Counsel in Slavens v. Meritor Inc.
Over $1 Billion Recovered
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Thousands of pension plans are using outdated mortality tables to determine the value of pension benefits they are required to pay. Pension payments and annuities calculated using out-of-date mortality tables are generally worth less than benefits calculated on the basis of updated mortality data.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.
If you suspect that you are not getting paid adequately pay for your work, then you may want to do an online search about the average wage for a role similar to yours. A quick Google search should give you an idea as to the amount employers are paying workers in similar roles in your city and state. If you are not making at least the minimum wage for your city and state, then it is highly likely you are being underpaid.
Requiring non-exempt employees to work off-the-clock is surprisingly common even though it's usually illegal. Here are a few examples of employees who sued their employers for being forced to work off-the-clock: Corrections officers alleged that they were required to...
As an employee of a private company, you may not need to know the more complex nuances associated with ERISA. However, there are some things about the law that you should know. Primary among these is how your employer may diminish the value of your retirement plan by violating their obligations under ERISA.
Group health plans generally cover an employee, their spouse, and their dependents. The Employee Retirement Income Security Act of 1974 ("ERISA") is a federal law that affords individuals who receive employee health insurance and other incentives through a group...