Investigation: Potential Retirement Plan Mismanagement and Employment Violations at Southwest Airlines
Sanford Heisler Sharp McKnight, a national employment rights law firm, is investigating Southwest Airlines for potential financial mismanagement of its employee 401(k) plan and other potential violations of employee rights.
401(k) and other employer-sponsored retirement plans are intended to position employees for retirement. When Fortune 500 companies fail to manage these plans responsibly, the results can be devastating: tens of millions of dollars lost, and employees forced to work well past their planned retirement age. The federal Employee Retirement Income Security Act (ERISA) was enacted by Congress to protect employees from 401(k) mismanagement and to hold companies accountable when they fail to manage their employees’ retirement funds responsibly.
Legal and Financial Advocacy for Southwest Airlines Workers
Our investigation is focused on the retirement benefits of Southwest Airlines employees, including ticket and ramp agents, provisioning agents, freight agents, flight attendants, aircraft maintenance and engineers, customer support representatives, cargo and baggage handlers, ground crew, and other workers who are integral to Southwest’s operations around the country.
Many Southwest Airlines employees invest a portion of their earnings in the company’s 401(k) plan. We are investigating Southwest for potential violations of federal law in the management of this plan. ERISA requires plan administrators and fiduciaries to manage the assets of retirement plans solely in the best interest of participants and beneficiaries, strictly adhering to duties of prudence, loyalty, and care. While employers and their fiduciaries have discretionary control over how a plan is invested, mismanagement occurs when they fail to act in the best interest of plan participants. Among other responsibilities under ERISA, plan administrators have a duty to remove funds with a long record of under-performance compared to standard investment benchmarks.
How could this impact me and other plan participants? When your retirement savings remain in a poorly performing fund due to 401(k) mismanagement, costing the plan millions of dollars, your own retirement plans can be impacted, forcing you to work more years than you intended.
Taking on Employment Law Matters on Behalf of Plaintiffs Nationwide
Sanford Heisler Sharp McKnight specializes in holding employers accountable for violating federal and state laws that protect employee rights. We have negotiated hundreds of millions of dollars in pre-suit settlements for individuals with claims against their current and former employers in various industries. Our attorneys understand the complexities involved in bringing a claim against your employer.
For over 20 years, our firm has been successfully representing individuals and classes in claims against Fortune 100 and 500 companies for violating federal laws such as the Fair Labor Standards Act (FLSA), the Family and Medical Leave Act (FMLA), and the Americans with Disabilities Act (ADA), in addition to state employment laws in matters involving:
- discrimination (gender, age, race, LGBTQ+, disability, pregnancy)
- harassment
- whistleblower
- retaliation
- wrongful termination
- wage and overtime
- 401(k) mismanagement
The tenacity and skill we bring to representing clients has produced the largest-ever jury award in a gender discrimination class action and record-setting settlements in ERISA litigation.
As a social justice law firm, we hold corporations accountable when they break the law and harm workers and employees at every level of an organization.
What If I Am Uncertain About Needing a Lawyer in My Southwest Airlines Matter?
We welcome speaking with you about concerns regarding the performance of your 401(k) retirement plan, or other claims of employment rights violations. Please complete the confidential form below for us to review the details and set up a call.
