Ep #19: The Past, Present and Future of ERISA Litigation with Jerry Schlichter

Jerry Schlichter is founding and managing partner of Schlichter Bogard & Denton.

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6/29/2021 - 68 minutes


Episode Summary

My guest today is Jerry Schlichter, founding and managing partner of Schlichter Bogard & Denton. If you work in the retirement industry or are a fiduciary to a mega plan, you know all about Jerry. He's been featured in numerous national publications, including The New York Times, Reuters, Bloomberg, USA Today, and the The Wall Street Journal, for his success in pioneering claims of excessive fees in defined contribution plans, obtaining precedent-setting results against large employers. There's a reason he's been called “public enemy no. 1 for 401(k) profiteers” and “the industry’s most feared attorney”.


In this episode, he discusses the economics of taking on 401(k) and 403(b) cases, as well as the past, present and future of retirement plan litigation. Listen in as we talk in depth about emerging litigation areas like data as a plan asset and the potential risks of cross-selling additional services to participants. You will also hear his thoughts on how litigation will become increasingly more complex over time, whether litigation will continue to come down market and his best advice for ERISA fiduciaries.


What You'll Learn

  • The economics of taking on 401(k) and 403(b) cases.
  • How retirement plan litigation has evolved over the past 15 years.
  • How litigation is becoming increasingly complex.
  • Whether litigation will continue to come down market.
  • Advice for ERISA fiduciaries. 


Ideas Worth Sharing

  1. ”It’s a very serious process to take a client on, and we probably deny about 90% of cases that come through.” - Jerry Schlichter
  2. “You have to learn to pivot and see the direction that things are going.” - Jerry Schlichter
  3. “It’s very important to take a long-term approach.” - Jerry Schlichter
  4. “Disclosure isn’t enough.” Josh Itzoe