Employee Benefits Lawyers – New York City

Employers are obligated to comply with the Internal Revenue Code (IRC) and the Employee Retirement Income Security Act of 1974 (ERISA) when providing employees the benefits to which they are entitled. These laws ensure that employee benefit plans are administered fairly and in the best interest of the participants. Although properly structuring employee benefits and fiduciary compliance regimes can be complex, Miller Shah LLP is a knowledgably ally, helping employers meet their legal requirements while protecting the rights of employees.

Employee Benefits and Fiduciary Compliance at Miller Shah

Miller Shah takes a proactive approach to managing employee benefits and fiduciary compliance matters. Our services include:

• Litigation Representation: We represent fiduciaries in both state and federal courts, handling cases related to 401(k) fee disputes, benefit denials, and plan mismanagement.
• Compliance Counseling: Our attorneys provide comprehensive legal guidance to make sure benefit plans are administered in accordance with IRC and ERISA regulations.
• Plan Audits: We conduct thorough audits of benefit plans to identify and rectify compliance issues.
• Fiduciary Training: We offer training programs to educate fiduciaries on their responsibilities and best practices for plan administration.

The Role of Employee Benefits Litigation

Employee benefits litigation may arise as a result of disputes related to the administration of benefit plans. Litigation is often necessary to resolve conflicts and allow employees to receive the benefits to which they are entitled. Employers may also face litigation if they fail to comply with fiduciary duties in managing pension or 401(k) retirement plans, leading to financial losses for plan participants.

Common Fiduciary Compliance Issues

Fiduciary compliance issues often involve the following:

• Mismanagement of Plan Funds: The fiduciaries who manage and administer certain benefit plans are legally required to act in the best interest of plan participants. Mismanagement or misuse of funds within a plan can lead to significant financial losses and indicate a breach of fiduciary duty.
• Denial of Benefits: Employees may be wrongfully denied benefits due to administrative errors or intentional misconduct.
• Plan Amendments: Unauthorized or improper amendments to benefit plans can adversely affect participants.
• Failure to Follow Plan Documents: If an employee benefit plan is governed by a plan document, the fiduciaries of that plan must adhere to the terms of the plan documents.

Impact of IRC and ERISA Regulations

Regulations promulgated under the IRC and ERISA establish stringent standards for the administration of employee benefit plans. ERISA in particular imposes various fiduciary responsibilities, including the duty to act prudently and in the best interest of plan participants. The IRC governs the tax treatment of benefit plans and confirms that plans are administered consistently with tax laws. Failure to comply with these regulations can lead to severe penalties, including fines and disqualification of a plan’s tax-advantaged status.

Miller Shah: Experienced New York City Employee Benefits Lawyers

Miller Shah has extensive experience handling complex employee benefits litigation and is committed to helping employers and fiduciaries navigate the complexities of employee benefits and fiduciary compliance scheme. We are a resource for both employers and employees, and have experience consulting employers on how to properly structure employee benefit packages and pursuing litigation to recover losses suffered by participants in mismanaged plans. Our team-based structure and client-oriented approach ensure our clients receive individualized quality legal representation, regardless of their needs. If you are facing employee benefits or fiduciary compliance issues, contact Miller Shah for a consultation.