UnityPoint 401(k) Plan Member Alert
October 12, 2020
Filed in: Class Action Lawsuit
UnityPoint 401k Plan Member Alert | Potential Claims for Compensation
SAGW is investigating UnityPoint’s employee 401k plan to determine whether the plan members have claims for compensation as a result of the potentially improper selection of investments for the UnityPoint employees’ 401k accounts. Our initial investigation has uncovered that UnityPoint may have made overly risky investment choices with its employee’s 401k plan, causing employees to possibly lose money in their retirement funds and suffer decreased UnityPoint employee benefits.
Current or Former Employee of UnityPoint with a 401k Plan?
If you are currently enrolled in the UnityPoint’s 401k plan or have been enrolled in the 401k plan with UnityPoint, please contact Brian Marty for a FREE consultation by filling out a Contact Form or by calling 515-223-4567.
UnityPoint Employee 401k Claim Evaluation | Employment Retirement Income Security Act of 1974 (ERISA)
ERISA regulates various types of employee retirement plans, including 401k plans. Pursuant to ERISA, plan participants and beneficiaries may be entitled to seek redress for breaches of fiduciary duty, denial of benefits, or failure to provide adequate disclosures of plan terms or benefit changes.
ERISA typically requires employers who sponsor retirement plans to act with prudence, loyalty, and the highest regard for the interests of their employees who participate in such retirement plans. Such duties also apply when employers or their agents select investment options for the plan members and invest or manage the plan’s assets. When employers breach their duties by investing plan assets imprudently, plan participants can seek to hold them accountable for losses the plan suffers as a result.
We are investigating whether UnityPoint may have breached its fiduciary duties by potentially selecting unsuitable investments for its employees’ 401k portfolios, possibly costing participants in its 401k plan substantial amount of money in lost retirement savings. SAGW has extensive experience representing employees who are 401k plan members or beneficiaries, in cases where ERISA fiduciaries failed to prudently and diligently invest plan assets and caused losses to the plan members.
FREE EVALUATION | UnityPoint 401(k) Claims
If you are a current or former employee of UnityPoint who is or was enrolled in UnityPoint’s employee 401k plan, contact us today. Our law firm has represented thousands of victims of corporate misconduct.
You may contact us telephonically at 515-223-4567 or by filling out the contact form on this page, for a FREE, no-obligation evaluation of your potential claims for compensation.