Pensions

Not all retirement fund losses are due to the volatile nature of the stock market. Some losses may be the result of negligence, fraud or other wrong acts. If your pension fund managers have failed in their legal duty, you may be able to recover your funds.

The Employee Retirement Income Security Act of 1974 (ERISA) protects assets placed in retirement vehicles.

It requires fund managers, trustees and administrators to have the highest duty under the law (fiduciary duty) to fund beneficiaries.

Fiduciaries must administer plans in the sole interests of the participants for the purpose of paying benefits and covering plan expenses. They are required to minimize the risk of losses.

If the court finds that fiduciaries have failed to administer plans in accordance with its rules, it may hold the fiduciaries personally liable for losses made through improper management.

There is a time limit in which a case must be filed making it essential to seek the advice of a lawyer familiar with this type of complex claim.