Jerry Schlichter Called “Father of the 401(k) Case” in Modern Healthcare Article
On April 19, 2022, Modern Healthcare published an article highlighting litigation filed by America’s workers against their healthcare industry employers, emphasizing Schlichter Bogard & Denton Managing Partner Jerry Schlichter’s impact as “the Father of the 401(k) case.” The author credits Jerry “with developing the body of law around ERISA,” having filed the first suits in this space.
Referencing Schlichter Bogard & Denton’s successful result in its 2013 lawsuit against insurer Cigna, the article cites to the presiding judge’s opinion which praised Jerry and the firm “for acting as ‘a private attorney general’ in enforcing ERISA, while ‘risking breathtaking amounts of time [and] overcoming many obstacles for the benefit of employees and retirees.’” The Cigna verdict resulted in a $35 million resolution in favor of employees and retirees.
The article further underscores the enduring benefits from the body of litigation spearheaded by Schlichter Bogard & Denton, including “a drop in participant investment fees, increased transparency from employers around rates charged, and a decline in conflict-of-interest cases among fiduciaries recommending clients invest in their products, according to research from Boston College’s Center for Retirement Research.” As quoted in the article, Jerry stated: “We’re very, very proud of what has been accomplished.”
To learn more about our results on behalf of employees, retirees, investors, and others, visit our website. For additional information about Schlichter Bogard & Denton’s Retirement practice, please contact us at 1-800-873-5297 or via email at contact@uselaws.com.
