ERISA Law Clinic Chicago

Before ERISA workers were not given a assurance that the pensions they earned through their careers would be there when they retired. ERISA established reporting and disclosure requirements, a fiduciary standard, the vesting of pension benefits, as well as the Pension Benefit Guaranty Corporation. Litigating ERISA matters requires a deep understanding, skilled advocacy, and cutting edge insight. Loftus & Eisenberg, in collaboration with C-K Law Group, is proud to offer this unique opportunity.

Practice Areas

ERISA attorneys assist clients in addressing issues related to employee benefits, such as the creation and drafting of retirement plans for employees, such as defined-benefit, money-purchase retirement and 401(k) as well as health and welfare programs. They also offer guidance on the operation of plans reporting and regulatory issues, and handle disputes or claims relating to these plans. Disputes and claims in ERISA-governed plans include alleged violations of fiduciary obligations; claims related to the denial of retirement, disability, or life benefits; and lawsuits involving the distribution or selling of plan assets. Attorneys in this practice area usually operate on a contingency basis. ERISA litigation practice groups typically work on complex cases involving multiple parties which include large financial institutions and private equity funds. They also act as counsel for a wide range of corporate transactions and provide guidance on investment funds as well as prohibited transactions and tax issues. They may also be asked to provide advice on issues relating to employee compensation and benefits in connection with mergers, acquisitions, and securities transactions.

ERISA Disputes

ERISA settlements for class actions continued in 2024, though they slowed down in comparison to 2023. These settlements usually involve the recuperation of future benefits, back benefits owed by the plaintiff and reasonable attorney fees. Our attorneys can assist with disputes involving excessive fees charged by an advisor or recordkeeper, or investments that have contributed to the deficits in a pension plan. These claims are usually filed as derivative actions. This is a more efficient option to litigation involving class actions. For instance, successfully defended a company that makes technology in an class action under the ERISA law regarding redemptions of company shares held by a employee stock ownership plan. This case entailed a major problem in the law of securities, and was one of the few ERISA trials in recent years. Also, the case was dismissed on constitutional standing grounds in an ERISA case involving retiree health insurance benefits. This was affirmed on appeal. This was a first of this kind decision.

ERISA Litigation

ERISA class actions continue to be filed, however at a lower rate than in previous years. Settlements are similar to. Often, ERISA-based long term disability cases are resolved through settlement conferences or mediation, in which both parties (after many discussions and offers and counter-offers) eventually reach a settlement agreement on the amount of the claim. Our ERISA litigation team has a wealth of experience representing fiduciaries, plan sponsors, and third party administrators, as well as insurance companies in a range of individual and group action matters. Defending a global manufacturer against a class-action lawsuit accusing them of breaching fiduciary duty for permitting employees' 401(k), account contributions to be invested in company stock. Successfully removing claims that claimed excessive fees. Affirming a public company on a complicated ERISA related stock drop case. In defending these types of claims, it requires sophisticated legal skills and a deep understanding of ERISA and federal court practices. Our specially-designed team includes the skills of dedicated ERISA litigators, dependable employee benefit advisors, and skilled trial lawyers to assist our clients settle complex ERISA disputes and class actions.

ERISA Appeals

ERISA regulations require that insurers and plans to offer a clear and clear appeals procedure within the specified timeframe. The administrative appeals files will form the basis for any legal action, which is why it is crucial to present the strongest possible case. Our Chicago ERISA lawyers have helped clients get disability benefits by writing persuasive appeal letters, assembling solid evidence and submitting complete medical records. We can assist people in filing a lawsuit against an insurance company. Our team has a wealth of experience dealing with all types of ERISA cases. We are adept at negotiating settlements, defending class certifications and bringing cases to court if necessary. We have achieved substantial settlements in shorter-term and long-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 attorney can assist you in getting the benefits you deserve.