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ERISA Archives

GE accused of making millions off 401(k) participants' loss

Many workers in Texas invest for retirement through their employer-sponsored 401(k) plans. A possible class-action lawsuit emerging against General Electric Co. illustrates the harm caused when plan managers ignore fiduciary duties. Participants in GE's plan, which is one of the largest in the country with over $28 billion in assets, have filed a lawsuit based on violations of the Employee Retirement Income Security Act (ERISA).

DOL backs employee seeking retirement benefits

Texas auto workers may be interested to learn that, on July 28, the Department of Labor filed an amicus brief that supported a Chrysler Group LLC retiree who was seeking to recover enhanced early retirement benefits. According to the court documents, the retiree was seeking the right to pursue equitable claims against his plan after being denied benefits due to undisclosed plan terms.

Supreme Court decision could affect church hospital employees

Catholic hospitals and other employers in Houston and around the nation are paying close attention to a case involving retirement plans that's scheduled to be heard before the United States Supreme Court. Pension plans affiliated with church hospitals are regularly exempt from the Employee Retirement Income Security Act of 1974; however, the Supreme Court will soon be ruling on three cases that challenged that exemption.

Wells Fargo sued for ERISA violations

Wells Fargo employees in the Houston area may have lost money in their retirement plans after stock prices in the bank declined. Employees who allege that Wells Fargo violated the Employee Retirement Income Security Act have filed several complaints against the bank. The plaintiffs are seeking class action status for their ERISA claims.

Court rules company violated ERISA

An insurance company has been ordered in court to pay $5.5 million to a hotel and its employees on the grounds that it violated its fiduciary duties in connection with the Employee Retirement Income Security Act of 1974. Workers in Houston who may be in similar circumstances might be interested in the case.

Helping workers with claims under ERISA-covered disability plans

Developing a significant disability can have major ramifications within a person’s life. A worker going through this experience can have many worries about their financial future and questions about what things they could/should be doing to try to protect it.

Pension plan changes could come to Texas employees

Employment can often have many benefits for workers while they are employed and possibly even later during retirement. When a person has been with an organization for some time, they may have been part of a pension plan that would help provide the individual with income during retirement. These plans can be very beneficial after retiring and losing a steady income from employment, but pensions may be at risk for some individuals.

Fewer Texas workers get health care through employers

The Houston Business Journal reported last week that Texas now ranks in the bottom five states when it comes to employer-sponsored health insurance. Only 52 percent of Texas residents are currently covered by employer insurance policies, according to the report. The only states that have even fewer residents on employer plans are Louisiana and New Mexico.

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Warren & Siurek, L.L.P.
3334 Richmond Avenue, Suite 100
Houston, TX 77098

Toll Free: 877-497-0328
Phone: 832-699-1988
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