Columbus partner Georgeann Peters, who co-chairs the firm's Employee Benefits Practice Team, was profiled in the April 2009 edition of Columbus CEO magazine in its "Top Lawyers" section.
Asked if she anticipates a rise in employee benefits litigation related to the current economic crisis, Peters said, "Yes, without a doubt. The sharp market declines have hit 401(k) plan assets hard, and many employers are considering curtailing benefits to cut costs. Employees, unions and other activist groups are likely to challenge plan fiduciaries and employers over these issues. As a result, employers would be well advised to document the basis for decisions carefully and to ensure all their 'fiduciary checklists' are followed."
Commenting on other trends she expects to see, Peters said, "Employers that still have traditional pension plans will likely 'freeze' them and shift their resources to account balance plans (401(k),403(b), etc.). Smaller employers may drop their health plans, and others may engage in greater cost-sharing with employees. While 'wellness' and 'disease management' programs are popular, they could also face the ax unless they can demonstrate they generate bottom-line savings through decreased medical expenses."
Ask how she approaches her practice, Peters said, "By trying to make a very complex and technical area of the law understandable for the client. In addition, I am not afraid to be proactive with my clients about what to do. Clients really appreciate practical advice from an experienced professional in such a technical area of the law. Finally, I strive to be very responsive and provide service on a timely basis. That simple courtesy is extremely important in maintaining good client relationships."