Fiduciary Liability

A group of unions sued their employers on the grounds that the employers had not properly calculated or made their contributions to the shared retirement plan for the union employees as required by the parties’ collective bargaining agreement. The unions also asserted that the employers had failed to provide them with accurate reports detailing the hours worked by each union employee and the associated amount of fringe benefit contributions owed. According to the complaint, the employers’ actions violated both the CBA and ERISA. The unions requested damages in the amount of the missing contributions, interest on those amounts, liquidated damages, attorneys’ fees, court costs, and a permanent injunction barring the employers from similar conduct in the future.

A retiree of a global manufacturer of household goods was shocked to discover that more than $750,000 had gone missing from their retirement accounts. Upon investigation, they learned the money had been stolen by a fraudster who managed to successfully impersonate the plaintiff on a phone call with the Plan Administrator and changed their online credentials. The plaintiff claimed the Plan Administrator didn't act with reasonable care, skill, prudence, and diligence to prevent the fraud. As relief, the plaintiff requested that they be awarded damages in the amount of their missing retirement funds, an amount of projected lost investment earnings, and the attorneys’ fees and costs.

After a staffing agency went bankrupt, its retirement plan administrator, who was also the agency’s former president, refused to distribute any Plan assets or accept new contributions. The Department of Labor stepped in and sued the administrator, claiming they had failed to discharge their legal obligations to Plan participants and beneficiaries. The Department asked the court to remove the administrator from their position, appoint a new Plan administrator, and order the former administrator to pay for all management fees or charges billed by the new administrator.

A group of unions sued their employers on the grounds that the employers had not properly calculated or made their contributions to the shared retirement plan for the union employees as required by the parties’ collective bargaining agreement. The unions also asserted that the employers had failed to provide them with accurate reports detailing the hours worked by each union employee and the associated amount of fringe benefit contributions owed. According to the complaint, the employers’ actions violated both the CBA and ERISA. The unions requested damages in the amount of the missing contributions, interest on those amounts, liquidated damages, attorneys’ fees, court costs, and a permanent injunction barring the employers from similar conduct in the future.