gavel resting on open book (Photo: Shutterstock)

With Americans spending more time at home due to Covid-19-related lockdowns this past year, they weren’t just busy perfecting their sourdough recipes and TikTok dance videos. It seems they also had time to dig into their 401(k) plans, and many didn’t like what they saw. 2020 was a bumper year for litigation under the Employee Retirement Income Security Act (ERISA), the statute that governs 401(k)s and other retirement plans.

According to the Groom Law Group, a law firm based in Washington, D.C. that defends employers, there were more than 200 ERISA class actions filed this past calendar year, an all-time high. It was an 80% increase over 2019 and more than double the number of 2018.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events.
  • Access to other award-winning ALM websites including and

Already have an account?



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including and
  • Exclusive discounts on and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.