401k Mismanagement Lawyers

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401(k) Fraud Lawyers

401(k) plans are the most common employer retirement plan among American workers. According to the Investment Company Institute, assets in 401(k) retirement plans surpassed $4.4 trillion. However, if a 401(k) is mismanaged or misused by your employers, your hard-earned money can disappear, leaving you without a backup plan when you retire.

If you feel that your employer or investment company is mismanaging your retirement account, you should speak with an experienced 401(k) mismanagement lawyer to help you recover your losses. For years, the 401(k) fraud lawyers at Sanford Heisler Sharp have been helping victims regain money lost by fraudulent activity.

What is Considered 401(k) Mismanagement?

Your employer sets up and maintains your 401(k) plan. It is your company’s responsibility to determine requirements and details of the plan. For example, your employer may decide whether a matching contribution by the company will be made. Employers are also responsible for choosing the plan’s vendor and partly responsible in how the fees will be charged to the plan. However, if your employer neglects to maintain and monitor your 401(k) program, a substandard retirement plan for the workers could result. This can be considered 401(k) mismanagement.

According to the Employee Retirement Income Security Act of 1974 (“ERISA”), there are minimum standards for most voluntarily established pension and health plans in the private sector to provide protection for workers who utilize these plans. An employee can file a claim against an employer for violating ERISA rights because of the following conditions:

Our 401(k) Mismanagement Lawyers Hold Employers Accountable

The financial services litigation lawyers at Sanford Heisler Sharp are dedicated to holding employers accountable and protecting employees against retirement plan mismanagement and inappropriately high fees. We welcome inquiries from participants who wish to investigate whether their 401(k) investment options:

If you believe your 401(k) has been mismanaged, contact our 401(k) mismanagement lawyers for an evaluation of your case.

If you or someone you care about has been taken advantage of in a securities or other financial transaction, Sanford Heisler Sharp can help right that wrong.

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Sanford Heisler Sharp, LLP is a public interest law firm representing individuals and groups against corporations and governmental entities. The firm also represents individual citizens when a corporation is committing an act of fraud against the U.S. Government. As a private attorney general, Sanford Heisler Sharp, LLP specializes in employment, Title VII and wage and hour matters; representation of executives and attorneys; qui tam whistleblower cases; consumer fraud; housing discrimination; mass torts; and appellate and complex litigation.

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