ERISA Attorney in Chicago

An ERISA attorney in Chicago can assist you with filing an appeal or a lawsuit to your insurance company if they deny benefits. These lawyers usually work on a contingent fee basis.

ERISA lawyers assist clients with various issues relating to employee benefits, including conflicts of interest and prohibited transactions. They are often called upon to assist private and public investment funds to identify and avoid potential issues in their mergers and acquisitions.

ERISA is a federal law

ERISA is a complicated law that regulates almost all employer-provided health and retirement benefits. It also regulates how funds are utilized in these plans. Therefore, it requires thorough disclosures and reporting as well as fiduciary duties. It also establishes requirements for vesting and creates the Pension Benefit Guaranty Corporation to ensure that employees receive their wages in the event of a plan's bankruptcy.

In addition, ERISA preempts state laws regulating insurance. Illinois Antisubrogation laws, which ban health insurers from claim back payments for claims made from personal injury settlements and judgments, are not applicable to ERISA-governed health or disability insurance.

Plaintiff's lawyers have become increasingly interested in class action ERISA litigation. The ERISA-governed pension plans are able to hold assets that amount to billions of dollars. The plaintiff's legal bar has targeted them with lawsuits claiming negligence and breach of fiduciary duties. The key to defending against these claims is having the appropriate legal team. Our ERISA practice blends deep knowledge with skilled advocacy and cutting-edge insights.

It's a complex law

ERISA law covers a wide array of issues that relate to welfare and pension programs. ERISA litigation is usually complex and involves a combination of federal law as well as state law and common law. It also includes elements from trusts law, contract law and administrative laws.

The ERISA litigation practice represents plan sponsors, fiduciaries, administrators, insurers and payers in lawsuits arising from the administration of retirement, health and other employee benefit plans. This includes disputes about the entitlement to benefits, breaches of fiduciary duty, and allegations of violations of ERISA.

Mark DeBofsky is a highly experienced ERISA lawyer who is dedicated to protecting the rights of clients and obtaining positive outcomes. He has handled successfully a variety of ERISA disputes, including retaliation claims under ERISA and whistleblower cases. He has been awarded the AV Preeminent rating by Martindale-Hubble and is an ERISA"Super Lawyer.He has extensive class action experience and regularly defends employers from the threat of retaliation in accordance with ERISA.

It's a law which is time-sensitive

If you're trying to submit an ERISA claim, it's important to understand that the law requires you to follow certain deadlines. In the event of a delay, it could result in a disastrous claim. Insurance companies enforce these deadlines to ensure the effectiveness of the claims process.

ERISA cases are also distinct from civil lawsuits. For instance, they're generally filed in federal courts and are based on bench trials rather than jury trials. Additionally the courts in these cases place strict limits on the "discovery" and limit depositions and other methods of gathering evidence that are typically used in civil lawsuits.

ERISA ensures the group benefits that millions of Americans and their families depend on for healthcare, retirement savings, and insurance coverage. If you are in a dispute with an insurer over your rights, you must consult an experienced Chicago ERISA lawyer to level the playing field. The right attorney can also assist you with other kinds of legal issues related to your pension plan.

It's a law that's challenging to navigate

The Employee Retirement Income Security Act of 1974 (ERISA) requires private companies that offer retirement and health plans to conduct their business in a fair and transparent manner. It also sets out a standard for the administration of pensions and disability benefits. If your employer has mishandled the long-term disability claim, you may file an ERISA claim to receive the money you're entitled to.

However, ERISA claims can be difficult to handle because of the sheer volume of paperwork as well as the strict legal requirements. Furthermore, ERISA lawsuits must be filed in federal court and not in state courts as other civil suits. This means that your case may not get the benefit of a jury trial, and judges will make decisions on the merits of your case with no assistance of any additional evidence. Your attorney can offer professional advice to guide you through this difficult process. Loftus and Eiberg LLC's business law lawyers can assist you with ERISA litigation.