Monday, May 1, 2006
Susan Mangiero over at Pension Risk Matters has some eye-opening statistics concerning the prevalence of ERISA cases on the federal docket.
The Administrative Office of the United States Courts reports a startling increase of filed ERISA cases with case filings going from 9,167 cases in 2000 to 11,499 cases in 2004.
Susan believes that the number of such suits will continue to increase because of "[n]egative headlines, excessive executive compensation (perceived or real), market volatility, a dramatic shift away from defined benefit to defined contribution plans and regulatory reform that could force write-downs."
Indeed, it is because of the increasing number of ERISA cases that I have decided to devote an entire semester to teaching an employee benefits course and regularly can be heard telling students that focusing on this area of the law is the closest thing there is to guaranteeing legal employment after law school.