If you work for a private company that provides a healthcare, retirement, or pension plan as a compensatory benefit, it is likely that you and your employer are subject to the terms of the Employment Retirement Income Security Act. Commonly known as “ERISA,” this 1974 federal legislation established numerous protections for workers and requirements for employers that relate to these kinds of benefits.
If you suspect that your employer has violated ERISA guidelines, consider speaking with our knowledgeable attorneys about your legal options. Once retained, a Chardon ERISA lawyer could examine your unique circumstances, determine whether you have a valid cause for action, and work tirelessly to pursue a favorable case outcome on your behalf.
Generally, ERISA covers both defined benefits plans and defined contribution plans. Funded by an employer on behalf of an employee, these plans involve monetary contributions from both parties to invest in a designated account. There are only a handful of plans which ERISA does not cover, including:
If an employee’s health, retirement, or pension plan is subject to ERISA regulations, the Act guarantees them several basic rights. This includes the rights to be informed about their plan and the minimum standards for participation, to have employee-maintained claims proceedings, and to receive adequate funding from sponsors for their plan. Most importantly, ERISA-covered employees have the right to retain a skilled local attorney and hold plan fiduciaries accountable if they fail to live up to their legal duties.
Even minor violations can have huge financial and personal impacts on plan participants, so it is always important to take potential regulation breaches seriously. Although many different circumstances could justify an ERISA lawsuit, some of the most common include:
With help from a practiced ERISA lawyer, a Chardon employee may be able to hold a plan fiduciary or their own employer liable for any losses suffered due to negligence or fraud. This could include the value of denied or lost benefits, any interest that accrued when those benefits were wrongly denied, and attorney’s fees.
Healthcare and retirement plans can be an important part of the compensation you receive for the work you do. If you have any reason to suspect that your plans are being improperly managed, take prompt legal action to preserve your future financial health.
A conversation with a Chardon ERISA lawyer could help you understand your legal options and put you on the right track towards civil recovery. To schedule your initial consultation, call the law offices of Tittle & Perlmuter today.