To be fully secure in your retirement, you will likely need to rely on income and savings from several different sources; Social Security benefits or personal savings are rarely enough. For many people, a significant portion of their anticipated retirement income will come from their employer-sponsored retirement plan. When the day comes to draw from this plan, you need to know that you will be able to get the full financial compensation that you are owed.
Far too frequently, retirement plan claims are wrongly denied or significantly underpaid by the retirement plan or its fiduciaries. At The Garner Firm, our aggressive Philadelphia retirement plan claims attorney, Adam H. Garner, has extensive experience handling these types of cases. In fact, he spent several years of his career administering large retirement plans. If your retirement plan claim was denied, please do not hesitate to contact our office today for legal assistance.
The majority of employer-based retirement plans are regulated by the Employee Retirement Income Security Act of 1974 (ERISA). This federal law requires retirement plans to conform to certain legal standards regarding their funding, structure and administration. ERISA also regulates the process for claims and appeals against these retirement plans.
There are, broadly speaking, two types of ERISA-regulated retirement plans: defined benefit plans and defined contribution plans. Defined benefit plans are typically traditional pension plans that provide retirees with a set monthly retirement benefit for the retiree’s life (and sometimes for the life of the retiree’s spouse if he or she survives the retiree). In the past, defined benefit pension plans were common for nearly all large employers. Today, many older workers still have access to a defined benefit pension plan benefit. In addition, many union workers, as well as government employees, still have the opportunity to participate in a traditional defined benefit pension plan.
Defined contribution plans are most often 401(k) or 403(b) plans, which provide the retiree with a tax advantaged savings account during their working life. After retiring, a defined contribution plan participant typically has access to the full balance of his or her retirement savings and is responsible for managing that savings by him- or herself. In today’s work environment, participation in a defined contribution plan is more common than participation in a defined benefit plan.
Often, claims requiring legal counsel could arise related to a retiree’s entitlement to retirement benefit, the calculation of the retiree’s benefit, or whether the retiree has engaged in conduct that caused his or her benefit to be suspended. In addition, sometimes the retirement plan will make a mistake and overpay a claim. Retirement plans will attempt to make the retiree pay for their mistake by demanding repayment or reducing the retiree’s benefit going forward. If you are having a problem with receiving your retirement benefits, then you should contact an experienced employee benefits lawyer today.
At The Garner Firm, we have helped many people recover the full and fair retirement benefits that they deserve. If your retirement plan claim was denied, our ERISA attorney Adam H. Garner is standing by, ready to help. To set up your free case evaluation, please call us our Philadelphia office today at (215) 645-5955 or contact us through our website.
Adam did an exceptional job in helping me both understand my situation and fight for my benefits/disability claim. He is extremely knowledgeable about the law and how it will effect your case. He was up front with us on how difficult our case may be and was always available to discuss our situation/answer questions. Adam also cares about you and takes an interest. He did an outstanding job to help me win my case against strong odds and was a blessing to have him as my lawyer. Thank you Adam for all you have done and continue doing on my behalf.
I would highly recommend Adam. He was courteous, professional, and very knowledgeable. He was attentive to my concerns and always responsive in a timely fashion.
I highly recommend him! He worked so hard and fought for what he thought I deserved. He is honest and will not lie to you, someone you can trust.
Adam has provided excellent service regarding my disability insurance claim. He is dedicated, knowledgeable, and compassionate. Adam keeps on top of the situation and responds immediately to any issues. He is always accessible. I would highly recommend him.
Adam is very knowledgeable about the process of seeking disability from the insurance company. After the insurer stopped paying my claim, I knew I needed to talk to somebody experienced in these types of cases. He was so detail-oriented, and I was so impressed with how he presented my case. I don’t know what I would have done without his help!
Adam is an exceptional attorney. He has helped me with my case and delivered a positive outcome that was more than I had expected in a timely manner. He is detail oriented and does not miss anything. He is extremely professional and prompt in updating my case. It was a pleasure working with him and I would highly recommend him to anyone I know.
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