65-Year-Old Employee Suspects Employer Used His Retirement Pension to Keep Business Afloat.
FOR IMMEDIATE RELEASE
Employee Files Lawsuit against Ali Baba for Breach of Retirement Plan
Hani started working for Ali Baba in March of 1974, and he began to pay into a retirement plan provided by the company. He had been told that the plan would be effective by January 1991, and when he reached 65 years old, his retirement would be 100% vested.
On March 14, 2016, Hani turned 65 years old. He asked his employer about his pension from the retirement plan. His boss told him that no funds were left in the account, blaming the drop in the economy after the 9/11 attack and the loss in business. Based on what his boss had said, Hani inferred that Ali Baba had used the retirement plan money to help the business during economic troubles. In July, Hani was laid off.
Hani contacted the Department of Labor in August for his legal options. In November, an investigation was opened. Although the investigation is ongoing, it uncovered that the retirement plan that Hani had been paying into never existed.
Hani believes that his bosses misused his money when it was meant to go into a retirement plan, and he has suffered the loss of his entire retirement. As a client of KM&A, Hani seeks relief from this fraud. KM&A represents employees like Hani who have suffered the loss of their rightful benefits under the law.
Full text of this complaint, as filed with the District Court for the Western District of Pennsylvania, is available at docket no: 2:18-cv-00949-CB
Kraemer, Manes & Associates LLC is an employment law firm with principal offices in Pittsburgh and Philadelphia, serving all counties in Pennsylvania, focusing on employment law, business law, litigation, and civil issues. KM&A clients include employees, small businesses, parties in litigation, and people with a variety of legal issues.