.jpg)
Your ERISA Watch Podcast
ERISA (the Employee Retirement Income Security Act of 1974) governs many of the employee benefits that impact our daily lives, including mental health coverage, long-term disability, retirement benefits, and life insurance. While it may not always receive the same attention as other areas of law, the stakes in ERISA matters are significant and often life changing.
The ERISA Watch Podcast, produced by Kantor & Kantor, LLP, provides insight into ERISA litigation, insurance disputes, and employee benefit claims, with a focus on the real-world impact these cases have on individuals and families.
Episodes feature in-depth discussions of complex cases, industry trends, and the human stories behind ERISA litigation.
This podcast was originally hosted by Elizabeth Hopkins during her time with the firm.
Your ERISA Watch Podcast
The Vig
Use Left/Right to seek, Home/End to jump to start or end. Hold shift to jump forward or backward.
On this special ERISA Watch episode, our host Elizabeth Hopkins examines the upcoming Supreme Court argument in the Hughes v. Northwestern University case, which will be held on Monday December 6, 2021. In Hughes, participants in a defined-contribution retirement plan allege the plan paid too much in fees for the investments offered, but the lower courts dismissed without even considering the merits of the case.
Elizabeth speaks to Former Assistant Secretary of Labor, Phyllis Borzi, about the importance the of the investment fee issue and why it matters to anyone with a pension. They discuss how paying too much in fees over the course of a career can potentially cut retirement income for an individual by over one-third, and how management companies are profiting to the tune of many millions of dollars per year by skimming from retirement plans.
Paying the vig in this instance might not implicate loan sharks and bookies, but with all of the risk on the plan participants and none of it on the employer and investment managers, the end result of the cuts being taken might not look all that different.
