St. Louis Law Professor: ERISA Claims Rise After Recession

The recent recession affected almost every aspect of our lives, from the job market to the housing market to the stock market. Now one St. Louis law professor says that it is also affecting the number of ERISA lawsuits being filed around the country in regards to retirement plans and 401K plans.

In 2009, 9,300 ERISA lawsuits were filed around the county – a staggering number in comparison to 2008 and other recent years. The reason? Peter Wiedenbeck, a law professor at the Washington University School of Law in St. Louis says that the recession has many baby boomers examining their retirement accounts, employee stock ownership plans, and health care plans very carefully. In some cases, companies have not paid into retirement accounts as promises. In other cases, policy violations were at the center of the lawsuit, while in other cases cite a “breach of fiduciary duty.”

Whether or not your company’s ERISA violation was related to the recent poor economy, you deserve everything that your employer promised you. If you have questions about a possible ERISA lawsuit in Missouri or Illinois, contact a St. Louis ERISA attorney today.