There is no shortage of litigation filed against retirement plan sponsors. It seems that most lawsuits focus on plan administration and investment fees, but a variety of other charges have been filed. While plan sponsors’ first priority is the best interest of participants and not how to avoid legislation, no one wants to be sued. With a large number of cases resulting in settlements, the courts haven’t offered much input on the issues, but there are still lessons to be learned.
Join PLANSPONSOR and retirement industry experts as we discuss:
Insights revealed from charges filed against plan sponsors, lawsuit settlements and court decisions;
New trends in types of claims and plan sponsors being targeted; and
How plan sponsors can be prepared in case a lawsuit is filed against them.
Managing Editor-Digital, PLANSPONSOR
Principal, Groom Law Group
Lars Golumbic’s litigation work includes employer 401(k) “stock drop” and “excessive fee” claims, and claims involving ESOPs. Lars represents religiously-affiliated healthcare systems in matters challenging the “church plan” status of the plans. Additionally, Lars defends plan trustees, fiduciaries, companies and their board members, and service providers in investigations opened by the Department of Labor and in enforcement proceedings instituted by the agency. He has appeared in dozens of federal courts across the country as part of his active ERISA litigation practice.
While the focus of Lars’ national practice is in ERISA litigation, Lars also represents plan fiduciaries and other stakeholders in matters concerning plan funding, restructuring, withdrawal liability, and plan termination.
Partner, Co-Leader of ERISA Litigation Team, Faegre Drinker
Kim Jones, co-leader of Faegre Drinker’s ERISA litigation team and a member of the benefits and executive compensation practice group, advocates for clients in a broad range of ERISA-related matters in federal courts throughout the country. She has extensive experience litigating claims involving denials of life, health, disability, retirement, retiree medical, and severance benefits; breaches of fiduciary duty; prohibited transactions; and ERISA Section 510 violations on behalf of plans, plan sponsors, plan fiduciaries, and third party administrators. Kim has defended plan fiduciaries in fiduciary breach claims alleging failure to monitor and investigate service providers and prohibited transactions. She has also successfully defended several large companies in class actions and individual claims alleging improper reduction or denial of retiree health benefits.