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Wave Of ERISA Revenue-Sharing Cases Continues

Law360 (July 10, 2008, 12:00 AM EDT) -- The Employee Retirement Income Security Act of 1974 (ERISA) governs most benefit plans provided by employers to their employees in the U.S., including nearly all retirement benefit plans. The statute does not require employers to provide any particular benefits to their workers, but rather regulates the manner in which the benefits provided are administered and secured.

Because ERISA-governed pension plans frequently control millions, if not billions, of dollars of assets, they can be major players in the financial services industry, and major targets for plaintiffs attorneys....
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