Vesting refers to the point at which you have a non-forfeitable right to your accrued pension benefits, even if you leave your employment.
Bartolic Law handles disputes with Supplemental Executive Retirement Plans, Single-Employer Defined Benefit Plans, and Multi-Employer Defined Benefit Plans. Michael has helped many clients make pension claims, appeal pension denials, and litigate retirement benefit disputes under ERISA § 502(a). Bartolic Law is the leader in Retirement and Pension Disputes. Chicago is the home of organized labor, and has many single employer and multi-employer pension plans. Corporations also provide Supplemental Executive Retirement Plans to key employees. Bartolic Law is nationally renowned for its work on challenging retirement benefit denials. We have helped clients from all walks of life in their retirement benefit disputes, including C-Level Executives, Senior Vice Presidents, and men and women in the trades. Some of our work includes:
Supplemental Executive Retirement Plans are unique in that they are governed by ERISA, but exempt from most of ERISA’s protections, like vesting requirements, requirements assets be held in trust, and fiduciary responsibilities. Often executives consult general employment lawyers who lack the experience in ERISA disputes to capably handle the dispute. While in general employment law, prevailing plaintiffs generally are awarded attorney’s fees, under ERISA, either side can obtain them for less than prevailing. Clients with SERPs generally have assets, so the risk of hiring a lawyer that does not focus on ERISA could cost you hundreds of thousands of dollars. Borrowing from Ray Dalio’s “Principles of Life and Work,” make sure the probability of the unacceptable is nil. You may be comfortable enough to lose your claim, but nobody wants to end up owing the employer. Hire Bartolic Law to ensure your valid claim is handled properly, and you do not end up paying the employer instead.
Not only rank-and-file employees file pension disputes. Often Executives, Partners, Accountants, Lawyers, and Physician participate in SERPs (also called “Top Hat Plans” under ERISA).
Michael Bartolic has represented C-level executives and Senior Vice Presidents in challenging denials of supplemental benefit plans and Long-Term Incentive Plans.
Vesting refers to the point at which you have a non-forfeitable right to your accrued pension benefits, even if you leave your employment.
If you are vested, you retain your right to the accrued benefit, which will be paid when you reach retirement age according to the plan rules.
Employers may be able to modify or terminate pension plans, but specific rules apply, and accrued benefits are generally protected.
If your pension claim is denied, you typically have the right to an internal appeal process, followed by the option to pursue legal action under ERISA.
ERISA plans generally have specific deadlines for appealing denials, so it’s crucial to act quickly. Consult your plan documents or an attorney.
A Supplemental Executive Retirement Plan (SERP) is a non-qualified deferred compensation plan often offered to key executives, providing additional retirement benefits beyond qualified plans.
Common issues include disputes over vesting, calculation of benefits, “forfeiture for cause” clauses, and changes in control triggers.
Michael Bartolic’s strong accounting and finance background, combined with his ERISA insight, allows him to meticulously review plan documents and uncover instances where pension benefits have been miscalculated.
Yes, if your internal appeals are exhausted and unsuccessful, you may have the right to file a lawsuit under ERISA Section 502(a).
Retirement and pension laws, particularly ERISA, are highly complex. Reliable legal representation ensures that all legal avenues are explored, deadlines are met, and your case is presented effectively to maximize your chances of a favorable outcome.
Michael Bartolic combines a strong accounting and finance background with an unmatched ability to understand proper interpretation of plan terms, identifying when plans misapply their own terms. Michael Bartolic helped a client who went on a foreign assignment to a higher taxed country. Often employers “gross up” the employee’s salary to incentivize the employee to accept the relocation, making up for the higher taxes. But when pension calculation time came, the employer tried to adjust the earnings down. By interpreting the plan definitions and uncovering internal communications, Bartolic Law presented a convincing case that the employer lacked any basis to deviate from its formula for calculating earnings, despite it resulting in a much higher pension for the client.
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