Plan Types
How claims differ across 401(k), 403(b), pension, and ESOP plans.
Last updated 2026-06-02. These answers are general information, not legal advice. Your situation depends on specific facts — for guidance about your circumstances, request a free review or consult a licensed attorney.
Both are workplace defined-contribution plans, but 403(b) plans are offered by nonprofits — universities, hospitals, schools, and charities. Many 403(b) cases involve too many overlapping investment options and high recordkeeping fees.
A wave of suits since 2016 alleged these plans offered too many duplicative options, used multiple recordkeepers, and paid excessive fees. A number of large universities have settled these cases.
ESOP (employee stock ownership plan) cases usually allege the plan paid more than fair market value for company stock, harming employee-owners. The valuation of the company stock is the central issue.
Pension claims can involve mismanagement of the fund's investments, underfunding, or, more recently, disputes over transferring pension obligations to an annuity provider ("de-risking").
Generally, no. ERISA covers most employer-sponsored plans, not individual retirement accounts you open yourself. Government and church plans are also often outside ERISA.
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These answers are general information, not legal advice. Your situation depends on specific facts — for guidance about your circumstances, request a free review or consult a licensed attorney.
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