Protecting Your Business Interests When ERISA Claims Arise
The Employee Retirement Income Security Act of 1974 (ERISA) regulates pensions and retirement plans. With an increasingly elderly workforce, we are seeing more litigation matters pertaining to ERISA law. While claims arise due to allegations regarding the handling of plan funds, other claims can be much more complex. The liability your business can face is also severe.
Since 1996, Hiltgen & Brewer, P.C., has represented banks, businesses and insurance companies across the United States. Our Oklahoma City law firm regularly defends companies in business and commercial litigation, employment matters and insurance-related disputes. We have a reputation for providing the highest quality representation. Our firm strives to resolve legal issues efficiently and cost-effectively.
How ERISA Claims Arise
There are a wide variety of ERISA actions. Common ERISA claims involve improperly denying benefits to former or current employees. These also can involve breach of fiduciary duties, and failures to protect the rights of those covered by the plan. ERISA claims often involve class actions. And ERISA claims sometimes arise due to investigations by the Department of Justice. Those sued may include employment plan fiduciaries, boards of directors and trustees.
It is the duty of those administering ERISA plans to:
- Educate plan participants regarding plan information and financing
- Not violate any fiduciary duties pertaining to the plan
- Oversee the grievance procedures concerning the plan
The failure to fulfill such duties may result in severe civil and criminal penalties. Individuals in violation of ERISA face significant fines and even a possible prison sentence of 10 years. A company in violation of ERISA may face fines in excess of $100,000.
Our firm understands the complex requirements of ERISA. We do not shy away from defending companies in the most challenging cases. Our attorneys have the knowledge to defend your interests in court, administrative hearings, arbitration hearings and negotiation. Our mission in all ERISA matters is to aggressively defend your business interests.