Deferred Compensation Lawsuits | Employment Retirement Income Security Act
Peiffer Wolf Carr Kane & Conway is investigating the deferred compensation practices of Raymond James, Charles Schwab, Fidelity, Merrill Lynch and TD Ameritrade. These companies allegedly violated the Employee Retirement Income Security Act (ERISA), causing employees and former employees to lose money.
If you are a current or former employee of Raymond James, Charles Schwab, Fidelity, Merrill Lynch or TD Ameritrade with a deferred compensation plan, you should contact the attorneys at Peiffer Wolf Carr Kane & Conway for a FREE Consultation by filling out a Contact Form or by calling 504-523-2434.
Current / Former Raymond James, Charles Schwab, Fidelity, Merrill Lynch or TD Ameritrade employee?
Viewed by many as a way for companies to forcibly retain high performing employees, deferred compensation payments seem to be a rising trend. However, companies like Raymond James, Charles Schwab, Fidelity, Merrill Lynch and TD Ameritrade allegedly violated the Employee Retirement Income Security Act (ERISA) with their deferred compensation practices.
According to the U.S. Department of Labor, “top hat plans are unfunded or insured pension plans for a select group of management or highly compensated employees.” Employees of Raymond James, Charles Schwab, Fidelity, Merrill Lynch and TD Ameritrade allegedly defer up to 15% of their compensation, depending on companies’ policies and the revenues they bring. In many cases, the wages won’t vest for 10 years, causing employees to allegedly give up some or the entirety of the deferred compensation if they leave the company before that.
When doing this, companies are violating the Employee Retirement Income Security Act of 1974, since the deferred compensation plan falls under the pension plan covered by the act.
Deferred Compensation Lawsuit | What can you do?
Peiffer Wolf Carr Kane & Conway is investigating companies that violated the Employee Retirement Income Security Act and whose employees may have given up part or 100% of their deferred compensation upon leaving. Companies being investigated include Raymond James, Charles Schwab, Fidelity, Merrill Lynch and TD Ameritrade.
If you are having problems with unvested deferred compensation with Raymond James, Charles Schwab, Fidelity, Merrill Lynch or TD Ameritrade you should Contact Us for a FREE Consultation. Peiffer Wolf has represented plan participants and beneficiaries in numerous ERISA class actions.
FREE CONSULTATION | Deferred Compensation Lawsuits
If you are a current or former employee of Raymond James, Charles Schwab, Fidelity, Merrill Lynch and TD Ameritrade with a deferred compensation plan, you should contact the attorneys at Peiffer Wolf Carr Kane & Conway. We have represented plan participants and beneficiaries in numerous ERISA class actions.
Contact Us by calling 504-523-2434 or by filling out an online Contact Form for a FREE Consultation. Concerns about possible misconduct and mismanagement are serious, and we are committed to fighting on your behalf.
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