If you are a business owner who plans to hire an ERISA attorney to help you navigate the intricate world of ERISA, then you should consider looking for one that has experience in this area of the financial service laws. The right attorney should have a proven track record of dealing with many ERISA clients, including corporations, self-employed persons and other organizations. Such attorneys may also be familiar with the ERISA Notice of Rights, which outlines in detail the rights of participants in employee benefit plans as well as their rights to file a claim if they are injured or become disabled as a result of wrongful activity by an ERISA provider. Another important factor is the fees that must be paid when hiring an ERISA attorney, as this often becomes a big sticking point for many participants in ERISA plans. Attorneys who have extensive experience in these fee issues will know what can and what cannot be negotiated and how to successfully represent their clients in these fee battles. Get more info about McKennon Law Group PC-ERISA Benefits Attorney.
An experienced ERISA benefits attorney can also offer neutral advice to a client, which is only in the best interest of the employer and his/her retirement plan. When major occurrences occur that directly affect plan administration, such as disability, accident and injury cases, ERISA administrators know it’s prudent to immediately contact their ERISA attorneys to discuss the case and review their options for pursuing a claim. The next step would be to file a complaint with the SEC or the U.S. Department of Labor, which enforces the laws covering employer-sponsored retirement plans. The attorney representing the employer would also be involved in communicating the details of the case to the SEC, so he/she would have an in-depth knowledge of the ins and outs of the process and the best strategy for appealing the denial of the initial claim.
A plan administrator can appeal most any claim decision made by the employer’s attorney in the appeals process. However, if the employer has not hired an attorney to handle the appeal, then it’s a good idea to start that process early. Hiring an experienced ERISA Benefits Attorney early on will help save both the employer and the plan administrator money in the long run. The more time and resources spent on the appeals process, the higher the likelihood of a favorable outcome for the employee.