San Diego ERISA Lawyer
Holding Employers Accountable for Mismanaging Your Retirement Savings
Retirement savings are built around prudent investing, yet most people are ill-equipped to manage a do-it-yourself portfolio of stocks, bonds, mutual funds, and annuities. Instead, you trust your employer to offer
a well-managed, best in class 401(k), 403(b), or ESOP that builds and protects your retirement savings. And you have every right to expect it because the law demands it.
However, we have found that due to a lack of effort, loyalty or competency, employers fail their employees time and again in this regard, causing you to fall behind and work many years longer just to catch up with your retirement savings. It is not uncommon for employers to simply not devote the time and resources necessary to this important fiduciary task. If your employer neglects to monitor plan expenses, as they are required to do, you could find that investment fees have taken a big bite out of your savings. Often, we see employers continue to offer employees poorly performing investments for 10 years or more, in some cases investments that they themselves manage and charge employees to manage. These amount to a breach of the fiduciary duties that your employer owes you under the law.
The lawyers from Sanford Heisler Sharp are here to help you pursue your legal rights. The Employee Retirement Income Security Act of 1974 (ERISA) gives you the right to hold your employer accountable and demand it restore the monies squandered through 401(k), 403(b), or ESOP mismanagement. The firm has successfully taken on multimillion-dollar class actions against major investment firms and corporations, so you can feel confident that we are committed and resourced to see your case through.
Contact us now to discuss a 401(k) mismanagement claim in San Diego.
Why You Should Pick Sanford Heisler Sharp
Sanford Heisler Sharp has a dedicated Financial Services Litigation Practice Group at the firm. It was founded by attorney Charles Field, who is a 25-year veteran of the securities and investment management business.
Today, he uses that unique experience to benefit his clients. By being able to scrutinize investments and investment performance, Mr. Field and his team can identify when an employer has mismanaged your retirement plan.
The Financial Services Litigation Practice Group has brought class actions against:
- General Electric (GE)
- Home Depot
- And more
Here to Answer All Your Questions
401(k) plans 403(b) plans, and ESOPs, and the laws surrounding their loyal and prudent management are complicated. Getting legal help if your plan was mismanaged is not. Contact our firm and ask for Charles Field.