Adam Garner is a noted speaker on ERISA topics. He has multiple speaking engagements set for this winter and spring, including on the topic of retirement plan litigation. Today, the landscape of retirement plan litigation under the Employee Retirement Income Security Act of 1974 (ERISA) is shifting rapidly. From pension risk transfer challenges to forfeiture lawsuits to ESG investing disputes, retirement plan participants face a growing number of threats to their hard-earned benefits. As an ERISA lawyer who represents plan participants and employees, The Garner Firm’s founder stays at the forefront of these developments—both in the courtroom and at the podium.
On February 20–21, 2026, Mr. Garner will speak at the American Bar Association‘s 50th Annual TIPS Midwinter Symposium on Employee Benefits, ERISA, Life, Health \& Disability Insurance, and Insurance Regulation in La Jolla, California. He will participate on the panel titled “ERISA Hot Topics, Part One: Retirement Plans.” Specifically, the panel will address some of the most consequential issues in retirement plan litigation today. These include pension risk transfers, forfeiture disputes, ESG investing, and fiduciary breach claims. This milestone event—marking the symposium’s 50th and final standalone year—brings together practitioners from both sides of ERISA litigation to examine cutting-edge legal developments.
What Is ERISA and Why Do You Need an ERISA Lawyer?
ERISA is the federal law that governs most employer-sponsored benefit plans. These include 401(k) plans, pension plans, and health and welfare benefit plans. Importantly, ERISA establishes fiduciary duties for those who manage these plans. It also requires transparency and accountability. In addition, it provides participants with the right to sue when those obligations are violated. If you participate in an private sector employer-sponsored retirement plan, ERISA is the law that protects your benefits. An experienced ERISA lawyer can help you understand and enforce those protections.
When plan sponsors or fiduciaries fail to act in participants’ best interests, ERISA provides legal remedies. In recent years, retirement plan litigation has expanded significantly. New theories of liability have emerged that challenge long-standing industry practices. As a result, understanding these trends is essential for anyone who depends on an employer-sponsored retirement plan for their financial security.
Pension Risk Transfers: A Growing Threat to Retirees
One of the most significant developments in retirement plan litigation involves pension risk transfers. In a pension risk transfer, an employer shifts its obligation to pay pension benefits to an insurance company by purchasing a group annuity contract. As a result, the employer eliminates its pension liability. However, participants lose the federal protections that ERISA provides. This includes the backing of the Pension Benefit Guaranty Corporation (PBGC). Instead, participants become subject to state insurance regulation, which plaintiffs argue offers weaker protections if the insurer becomes insolvent.
A wave of class action lawsuits has challenged these transactions. Plaintiffs allege that plan sponsors and fiduciaries breach their ERISA duties when they select an annuity provider that is not the “safest” available option. So far, courts have reached different conclusions on whether participants have standing to bring these claims. For example, one court allowed the case to proceed to discovery. In contrast, another dismissed the complaint entirely because it found no concrete injury. The outcome of these cases will have major implications for the millions of retirees whose pension benefits have been or may be transferred to insurance companies. If you are affected by a pension risk transfer, consulting an ERISA lawyer is a critical first step.
The 401(k) Forfeiture Litigation Explosion
Since late 2023, more than 80 class action lawsuits have challenged how employers use forfeitures in their 401(k) plans. Forfeitures are the unvested portions of employer contributions that remain in a plan when an employee leaves before fully vesting. The central allegation in these cases is straightforward. Plaintiffs claim that plan sponsors breach their fiduciary duties under ERISA when they use forfeitures to offset future employer contributions. They argue the money should instead reduce plan fees borne by participants or go to other participants’ accounts.
More specifically, plaintiffs argue that this practice violates ERISA’s fiduciary duties of loyalty and prudence, its anti-inurement provision, and its prohibited transaction rules. In 2025 alone, 43 forfeiture cases were filed. That represents a more than 40 percent increase over 2024. While most courts have sided with defendants on motions to dismiss so far, several have allowed cases to proceed. Moreover, the legal theories continue to evolve. For plan participants, these cases raise important questions. Is the money left behind by departing employees being used to benefit the people still in the plan—or the employer’s bottom line?
ESG Investing and ERISA Fiduciary Obligations
Environmental, social, and governance (ESG) investing in retirement plans remains a hotly contested issue. ERISA requires fiduciaries to act solely in the financial interest of plan participants. Critics of ESG investing argue that incorporating non-financial factors into investment decisions violates that obligation. Meanwhile, the current administration’s Department of Labor has signaled its intent to reconsider and potentially rescind a prior rule. That rule allowed ESG factors to serve as a permissible “tiebreaker” between financially equivalent investment options.
At the same time, courts have begun weighing in on these disputes. In one notable case, a court found liability where plan fiduciaries failed to adequately monitor an asset manager. The manager allegedly pursued non-financial ESG goals through proxy voting and shareholder activism, ultimately harming plan investment performance. In another case, a Texas federal court upheld the DOL’s ESG regulation. That court held that the rule “never permits fiduciaries to deviate from exclusively achieving financial benefits” for participants. The tension between these rulings creates uncertainty for both plan sponsors and participants. As a result, this is an area where an experienced ERISA lawyer is essential.
The Supreme Court Raises the Stakes: Cunningham v. Cornell
The Supreme Court‘s decision in Cunningham v. Cornell University resolved a significant circuit split. The case concerned the pleading standard for prohibited transaction claims under ERISA § 406, 29 U.S.C. § 1106. The Court held that a plaintiff can adequately allege a prohibited transaction simply by pleading its existence. In other words, the plaintiff does not need to prove at the pleading stage that no statutory exemption under ERISA § 408(b) applies. This decision makes it easier for participants to get their cases past the motion to dismiss stage and into discovery.
For retirement plan participants, Cunningham is a meaningful development. It reinforces that ERISA’s fiduciary protections should be broadly construed. Furthermore, it confirms that participants should not be required to plead information that lies solely within the control of plan fiduciaries. A knowledgeable ERISA lawyer can leverage this ruling to build stronger cases on behalf of plan participants.
Why Choose The Garner Firm’s ERISA Lawyer?
The Garner Firm, Ltd. is a Philadelphia-based ERISA employee benefits law firm. The firm represents employees, former employees, and plan participants on an individual, collective, and class basis. Mr. Garner is a nationally recognized ERISA lawyer with extensive experience in federal courts nationwide. He handles claims for benefits, equitable relief actions under Section 502(a) of ERISA, and fiduciary breach litigation. Additionally, as a former administrator of multi-million and billion-dollar multiemployer benefit plans, he brings firsthand knowledge of the policies, procedures, and fiduciary obligations that govern retirement plans.
Mr. Garner regularly writes and speaks on ERISA litigation and employee benefits law for legal conferences, bar associations, and professional publications. His selection as a panelist at the ABA’s landmark 50th Annual TIPS Midwinter Symposium reflects his standing in the field. It also demonstrates his commitment to staying on top of the legal developments that affect retirement plan participants.
An ERISA Lawyer Can Help Protect Your Retirement Benefits
If you believe your employer or plan fiduciary has mismanaged your retirement plan, you may have legal options under ERISA. This includes claims involving pension risk transfers, improper use of forfeitures, imprudent ESG investing, or any other fiduciary breach. The Garner Firm has the experience and knowledge to evaluate your situation and fight for the benefits you have earned.
Contact The Garner Firm, Ltd. today at (215) 645-5955 or visit www.garnerltd.com to schedule a consultation with an experienced ERISA lawyer who will stand up for your rights.