ERISA lawsuits don’t award emotional distress or punitive damages. Instead, the focus is on restoring financial losses to the retirement plan. If a plaintiff proves that fiduciaries allowed excessive fees, used underperforming funds, or made self-interested decisions, the court may order the fiduciaries to reimburse the plan. That money goes back into the plan—not directly…
Even if a company has good intentions, certain fiduciary mistakes can lead to costly ERISA litigation. Here are a few examples, drawn from real-world cases: 1. Overpaying for Services: Hiring a vendor that charges significantly more than market rates—without documenting why—can raise red flags. 2. Limited Investment Options: Offering employees only a handful of poorly…
One of the most important features of ERISA is who it protects—and after Cunningham, the pool of potential plaintiffs is wide. Current employees are obvious candidates. But ERISA also gives legal standing to former employees, retirees, and anyone else who is or was a participant in the plan with a vested interest. You don’t need…