Defendant's Attorney: Brandon R. Sher

Description: Philadelphia, Pennsylvania employment law lawyer represented the Plaintiff who sued the Defendant on an E.R.I.S.A. breach of fiduciary duty theory.

The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry to provide protection for individuals in these plans. ERISA is administered in part by the Employee Benefits Security Administration (EBSA), a branch of the U.S. Department of Labor.

ERISA was enacted to protect the retirement assets of American workers and their families. It does this by requiring employers to provide certain information to plan participants, establishing standards of conduct for plan fiduciaries, and providing participants with the right to sue for benefits and breaches of fiduciary duty.

ERISA covers a wide range of employee benefit plans, including:

Pension plans
Profit-sharing plans
401(k) plans
Employee stock ownership plans (ESOPs)
Health insurance plans
Dental insurance plans
Vision insurance plans
Life insurance plans
Disability insurance plans

ERISA does not cover all employee benefit plans. For example, it does not cover government-sponsored retirement plans, such as Social Security and Medicare, or church-sponsored pension plans.

ERISA is a complex law, but it is important for employees to understand their rights under ERISA. Employees can learn more about their ERISA rights by visiting the EBSA website or by contacting an attorney who specializes in ERISA law.

Here are some examples of how ERISA protects employees:

ERISA requires employers to provide plan participants with certain information about their plans, such as plan features, funding status, and investment options. This information helps employees to make informed decisions about their retirement savings.
ERISA establishes standards of conduct for plan fiduciaries. Fiduciaries are people who have responsibility for managing plan assets or making investment decisions for plans. They are required to act in the best interests of plan participants and beneficiaries. This means that fiduciaries must avoid conflicts of interest and must make investment decisions that are in the best interests of participants and beneficiaries, even if those decisions are not in the best interests of the fiduciary.
ERISA gives plan participants the right to sue for benefits and breaches of fiduciary duty. This means that participants can go to court to enforce their rights under ERISA. For example, a participant can sue if they believe that they have been denied benefits that they are entitled to, or if they believe that a fiduciary has breached their duty to act in the best interests of participants and beneficiaries.

ERISA is an important law that protects the retirement assets of American workers and their families. By understanding their rights under ERISA, employees can help ensure that they receive the benefits they are entitled to.

Outcome: 10/05/2023 40 MEMORANDUM AND/OR OPINION. SIGNED BY HONORABLE CHAD F. KENNEY ON 10/5/23. 10/5/23 ENTERED AND COPIES E-MAILED.(rf, ) (Entered: 10/05/2023)
10/05/2023 41 MEMORANDUM AND ORDER THAT MOTION (DOC. 24) IS DENIED. SIGNED BY HONORABLE CHAD F. KENNEY ON 10/5/23. 10/5/23 ENTERED AND COPIES E-MAILED.(rf, ) (Entered: 10/05/2023)
10/05/2023 42 MEMORANDUM AND ORDER THAT MOTION (DOC. 23) IS GRANTED. CLERK OF COURT SHALL CLOSE CASE. SIGNED BY HONORABLE CHAD F. KENNEY ON 10/5/23. 10/5/23 ENTERED AND COPIES E-MAILED.(rf, ) (Entered: 10/05/2023)

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