The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for most voluntarily established pension and health plans in private industry to provide protection for individuals in these plans.

ERISA class actions are a type of lawsuit that is filed under ERISA. These lawsuits are often filed by participants in pension plans who believe that they have been harmed by the actions of the plan's fiduciaries.

Fiduciary duties are legal obligations that are imposed on people who manage other people's money or property. ERISA imposes a number of fiduciary duties on plan fiduciaries, including the duty to act solely in the best interests of the plan participants, the duty to diversify the plan's investments, and the duty to provide accurate information to plan participants.

If a plan fiduciary breaches their fiduciary duties, participants in the plan may be able to file an ERISA class action lawsuit. In an ERISA class action lawsuit, a single plaintiff can sue on behalf of all of the other participants in the plan who have been harmed by the fiduciary's breach of duty.

ERISA class actions can be a complex and time-consuming process, but they can be an effective way for plan participants to recover damages from fiduciaries who have breached their duties. If you believe that you have been harmed by the actions of a plan fiduciary, you should speak with an experienced ERISA attorney to discuss your legal options.

Here are some examples of ERISA class actions:

• In 2018, a class action lawsuit was filed against Fidelity Investments on behalf of participants in 401(k) plans that Fidelity managed. The lawsuit alleged that Fidelity had breached its fiduciary duties by charging excessive fees for its services.
• In 2017, a class action lawsuit was filed against Wells Fargo on behalf of participants in 401(k) plans that Wells Fargo managed. The lawsuit alleged that Wells Fargo had engaged in a number of fraudulent and deceptive practices, including misleading participants about their investment options and charging excessive fees.
• In 2016, a class action lawsuit was filed against TIAA-CREF on behalf of participants in 401(k) plans that TIAA-CREF managed. The lawsuit alleged that TIAA-CREF had breached its fiduciary duties by investing participants' money in high-cost, underperforming investments.

If you believe that you have been harmed by the actions of a plan fiduciary, you should speak with an experienced ERISA attorney to discuss your legal options.