D.C. Arbitration Clauses Facing Uncertain Fate
ERISA Litigation attorney Todd Wozniak was cited in a Pensions & Investments article about how plan sponsors can use arbitration clauses to reduce the risk and expense of Employee Retirement Income Security Act (ERISA) lawsuits. Mr. Wozniak suggested setting a statute of limitations on participants filing an arbitration claim, regardless of whether a plan has an arbitration clause. He added that because ERISA does not have a statute of limitations for arbitrating benefits claims, judges often look to state courts for guidance.
"[Clients] are looking for ways to defend themselves proactively. They are concerned about the extensive fee litigation and investment lineup litigation," Mr. Wozniak said.