ERISA Guaranteed Fund Investigation
Keller Rohrback L.L.P. is currently investigating certain Guaranteed Investment Contracts (“GICs”), certain Stable Value Funds (“SVFs”) comprised mainly of GICs, and Group Annuity Products (“GACs”), all marketed by insurance companies and/or banks to 401k or other defined contribution pension plans, especially as investment options for plan participants. We are analyzing whether these large financial institutions have violated the federal law regulating pension plans (“ERISA”) with the result that employees and retirees who participate in the plans have lost money.
It is alleged that these investments have allowed defendants to set their own compensation by setting and re-setting the supposed guaranteed interest rate and/or by allocating too much of the investment earnings in excess of the guaranteed rates to themselves, then retaining large profits rather than crediting the participants and beneficiaries of the plans with appropriate returns.
Who was affected?
We are investigating whether employees and retirees in plans lost investment returns on their 401k plan accounts by investing in GICs, SVFs, or GACs offered by the following companies:
- Mass Mutual
- NY Life
If you believe that your 4011(k) plan was affected by this alleged activity, please contact attorneys Erin Riley, Jeffrey Lewis, Gretchen Obrist, Matt Gerend, , Jacob Richards, or David Preminger at (800) 776-6044 or via email at .
Keller Rohrback has extensive ERISA experience. Our attorneys have successfully litigated ERISA cases and recovered hundreds of millions of dollars for pension plan participants. Our attorneys are frequently invited to speak at ERISA continuing legal education seminars and conferences. Additionally, Keller Rohrback attorneys serve in leadership positions in professional organizations of benefits attorneys and have written numerous ERISA-related amicus briefs and articles.
Keller Rohrback has h offices in Seattle, Phoenix, New York, Santa Barbara, Oakland and Montana, and serves as lead and co-lead counsel in ERISA cases throughout the country. Our Complex Litigation Group, which includes our ERISA attorneys, has obtained judgments and settlements on behalf of clients in excess of seven billion dollars.