Benefits from an employer sponsored retirement plan are often an important part of ensuring a secure financial future. Retirement plans come in many forms, including pensions, defined contribution plans, Employee Stock Ownership Plans (ESOPs) and executive deferred compensation plans. Regardless of the type of plan you have participated in, you may one day be surprised to find that your claim for benefits has been denied. A retirement claim denial can throw your overall financial plans into chaos. If this has happened to you, you need to consult with an experienced Mountain View retirement plan claims lawyer immediately. Your lawyer will be able to assess your case and determine what needs to be done next to protect your rights and interests.
ERISA, the Employee Retirement Income Security Act of 1974, regulates many, but not all, retirement plans. This federal law provides key protections for participants in these plans. For example, the law requires plan administrators to follow certain minimum standards and bestows upon them a fiduciary duty. Because of this duty, plan beneficiaries have the option of filing a lawsuit if the negligent mismanagement of their plan has cost them part or all of their retirement benefits. ERISA also establishes standards for a claims and appeals process. To file a lawsuit related to your claim for benefits, you will first need to go through this administrative process. Only once all administrative remedies have been exhausted can claimants bring their case in court.
Filing an ERISA appeal is notoriously complex. While you will have the option to file a lawsuit at the end of the administrative appeals process, it is ideal to never reach this point. Filing a lawsuit takes both time and money and like most people, you will want to get your much needed retirement benefits as soon as possible. An attorney can help you ensure that your initial appeal is filed properly. Just as important, your attorney will make sure that you include all necessary evidence along with your appeal. When your claim is initially denied, you will get a letter from your employer or insurer telling you the reason why an adverse decision was made. However, there is something vitally important that the insurance company will not tell you: In any future lawsuit, the court will only consider evidence that is included within your case file. If you fail to provide all relevant evidence along with your appeal, that missing evidence will likely not be allowed into the record in the future. This mistake leads to many otherwise valid retirement plan claims being denied. Please do not let this happen to you. Seek professional legal help early in the appeals process.
At Roberts Disability Law, our team has helped many people recover their full and fair retirement benefits. If you are having difficulty recovering your retirement benefits in Mountain View, please contact our office today to set up a free review of your case.
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