Employees are often encouraged to participate in 401(k) pension plans through their work. Their contribution may be automatically deducted from their paychecks before taxes. This process is promoted as an easy way for workers to accumulate the funds they need for retirement. However, sometimes these pension contributions are not properly made or managed. Employees lose their hard-earned savings.
The Employee Retirement Income Security Act (ERISA) details the rules by which fiduciaries must manage employee benefits including 401(k) plans and Employee Stock Ownership Plans (ESOPs). ERISA is designed to deter fraud and provide employees a remedy when fraud occurs.
Donahoo & Associates has the experience needed to litigate on behalf of clients who have been defrauded. Contact us today for a free case evaluation.