Top ERISA Attorneys

Why Specialized ERISA Counsel is Essential for Plan Sponsors

The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry. It is widely considered one of the most complex areas of American law, combining intricate tax codes with strict labor regulations. Because of this complexity, general corporate counsel is often ill-equipped to handle specific benefits issues. ERISA attorneys dedicate their practice to this niche, providing the critical guidance necessary to protect plan sponsors, fiduciaries, and service providers from costly litigation and regulatory penalties.

Defense Against DOL Investigations and Fiduciary Breaches

The Department of Labor’s Employee Benefits Security Administration (EBSA) aggressively enforces ERISA standards. An investigation can be triggered by participant complaints or data flagged in your annual Form 5500 filing. In these high-stakes scenarios, an ERISA attorney is your first line of defense. They assist in producing the required documentation, representing the plan sponsor during interviews, and negotiating with federal investigators. Furthermore, if a plan fiduciary is accused of a breach—such as allowing excessive fees or making imprudent investment decisions—specialized counsel is required to navigate the defense and protect the personal assets of company officers.

Fixing Plan Errors: EPCRS, VFCP, and DFVCP

Even with diligent administration, mistakes happen. A common role for ERISA counsel is guiding sponsors through voluntary correction programs to fix errors before they are discovered by an audit. These include:

• EPCRS (Employee Plans Compliance Resolution System): Used to correct tax-qualification failures, such as excluding eligible employees or miscalculating profit-sharing contributions.
• VFCP (Voluntary Fiduciary Correction Program): Used to correct fiduciary breaches, such as late deposits of employee deferrals.
• DFVCP (Delinquent Filer Voluntary Compliance Program): Used when a plan fails to file their annual report on time.

Your attorney will often collaborate with your 401(k) auditor and Third-Party Administrator (TPA) to calculate lost earnings and prepare the submission, ensuring the plan maintains its tax-advantaged status.

Proactive Governance and Plan Design

Beyond crisis management, ERISA attorneys are vital for strategic planning. As legislation evolves—such as the recent SECURE 2.0 Act—plan documents must be amended to remain compliant. Attorneys review these documents to ensure they match the plan's actual operations. They also review service agreements with plan advisors and recordkeepers to ensure fee transparency and limit the sponsor's liability. By engaging counsel for proactive governance, companies can build a "litigation-proof" compliance structure that stands up to scrutiny.