To participate in the plan, you have work for the employer for a certain amount of time or a certain amount of hours. With this type of plan, employees are immediately vested in their own contributions and their earnings. When an employer matches, it takes longer to fully vest on that money. Generally, employees have to work around seven years to be fully vested. Of course, this can also depend on the type of ERISA plan in place.
When someone is named as a fiduciary of anything, it means that they have a legal obligation to do what is in the best interest of the recipient(s). Ms. Russell alleges that her termination stopped her from becoming 60% vested and prevented her from receiving all of the benefits that she should have received. She also alleged that the firm violated its fiduciary responsibilities toward her as a recipient of the ERISA plan.
We’ve reached to Carole Topol Orland for comment before this story was published, but she was unavailable. USA Herald invites Ms. Orland to contact us with a statement related to this matter if she wishes to do so.
No One Is Above the Law, Including Carole Topol Orland
Say what you will above state and federal government, but when it comes to employment law, we have excellent regulations put into place to protect workers like Kathleen Russell. Whether someone is entitled to overtime pay isn’t (thankfully) at the sole discretion of employers. Both federal and state laws guide employers (and inform employees) about the actual duties the employee would need in order for the employer to not compensate for overtime. The same can be said for retirement. It’s up to we, the people, to understand the law and to know our rights so that we can protect ourselves and ensure that we’re able to sufficiently provide for ourselves once we hit retirement age. If you have questions about whether your employer should pay you for overtime or about your retirement account, contact a reputable licensed employment law attorney in your area. Licensed attorneys are the only people allowed to give legal advice