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Tag: ERISA

Beware Before You Sign a Separation Agreement: It Could Impact Your Pension Benefits

Beware Before You Sign a Separation Agreement: It Could Impact Your Pension Benefits

In conjunction with an employee’s separation of employment, employers frequently ask the employee to sign a separation agreement in exchange for a sum of money, assistance in finding another job, or some other consideration. For many employees, the lure of the money motivates them to sign the separation agreement. However, most separation agreements include a broad release of claims against the employer and its agents, affiliates, representatives, employees and other related individuals and entities. If you later discover that your…

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Commit a Crime? Risk Having Your Retirement Account Garnished

Commit a Crime? Risk Having Your Retirement Account Garnished

If you are in a private-sector pension plan covered by the Employee Retirement Income Security Act (ERISA), you may have been told that your pension benefits cannot be “alienated.” That is, creditors cannot touch your employer-provided pension or retirement funds while those funds are in the plan. However, ERISA’s anti-alienation rule only goes so far, as one criminal recently learned. United States v. Frank, No. 1:17-cr-114 (E.D. Va. May 6, 2020). In 2017, Lawrence Frank pled guilty to one count…

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