ERISA Law Clinic Chicago

Prior to ERISA workers didn't have a guarantee that the pensions they earned throughout their careers would be there when they retired. ERISA established reporting and disclosure requirements, fiduciary standard, vesting of pension benefits, as well as the Pension Benefit Guaranty Corporation. Litigating ERISA matters requires solid knowledge as well as skilled advocacy and cutting edge insight. Loftus & Eisenberg is proud to partner with the C-K Law Group to offer this unique opportunity for clinical practice.

Practice Areas

ERISA attorneys assist clients in addressing issues relating to employee benefits, which includes creating and drafting retirement plans for employees such as defined-benefit, money-purchase retirement and 401(k), and health and welfare programs. They also offer assistance with plan operation reporting and regulatory issues, as well as handle disputes or claims relating to these plans. Pension plans governed by ERISA are subject to disputes and claims, including allegations of breach of fiduciary duty, claims relating to the cancellation or denial of life insurance and disability or retirement benefits; or lawsuits involving the transfer or sale of plan assets. Attorneys in this practice typically are paid on a contingency basis. ERISA litigation practice groups often deal with complex cases that involve multiple parties which include large financial institutions and private equity funds. They also serve as counsel for a wide variety of corporate transactions and provide advice on investment funds as well as prohibited transactions and tax issues. They may be asked to provide advice on employee compensation and benefits in connection with mergers, purchases or securities transactions.

ERISA Disputes

ERISA settlements in class actions continued in 2024, although they were trending downwards when compared to 2023. These settlements typically involve a payment of future benefits as well as any back benefits owed to the plaintiff, as well as reasonable attorney fees. If a dispute involves excessive fees imposed by an advisor or recordkeeper or a reckless investment that contributes to deficits in a pension plan Our attorneys can assist. These claims are usually filed as derivative actions. This is a more effective alternative to class action litigation. For instance, the firm successfully defended a company that makes technology in an class action under ERISA regarding the redemption of company shares held by a employee stock ownership plan. This case involved a major legal issue in the area of securities law, and was one of the few ERISA trials in recent years. Also, obtained a dismissal of an ERISA case involving retirement health insurance benefits based on constitutional standing grounds. On appeal the ruling was confirmed. This was the first ruling of its kind.

ERISA Litigation

ERISA class action lawsuits continue to be filed, however at a lower frequency than in previous years. Settlements are similar to. ERISA long-term disability cases are usually resolved through mediation or settlement conferences, where both parties (after many discussions and counter-offers, as well as many discussions) can agree on a claim value. Our ERISA and employee benefits litigation team has a wealth of experience representing plan sponsors, fiduciaries, third party administrators and insurers in a wide range of individual and class action matters. Examples include defending a global company in a class action that claimed breaches of fiduciary duty for allowing employees invest their 401(k) contributions into company stock, getting dismissal of claims claiming excessive fees for plan participation and providing advice to a public company on a complex ERISA-based stock drop case. The defense of these kinds of claims requires sophisticated legal expertise and a thorough understanding of ERISA and federal court practices. Our team consists of ERISA litigators and trusted employee benefit advisers and experienced trial lawyers. We bring their expertise together to assist in the resolution of complex ERISA disputes or class actions.

ERISA Appeals

ERISA regulations require that insurance companies and plans to offer a clear and clear appeals procedure within the time frame specified by. The administrative appeals documents will be the basis for any legal action. Therefore, it is crucial to present the strongest case that is possible. Our Chicago ERISA attorneys have helped clients receive disability benefits by drafting persuasive appeal letters, gathering strong evidence and submitting full medical documents. We can also help individuals take legal action by bringing a lawsuit against the insurance company. Our team has vast experience in all kinds of ERISA claims. We are skilled in negotiating settlements, fighting class certifications, and taking cases to court when needed. We have achieved significant settlements in short-term and longer-term disability cases. We have also successfully fought multiple class certifications and argued many important cases before the U.S. Supreme Court. ERISA litigation can be complex. An experienced lawyer can help you get the benefits you deserve.