One of the most popular questions we get from employers is what is going on with 401(k) or ERISA litigation, or the close cousin to the question, what is on the horizon that we should be aware of?  To share some perspective on that and much more, I am happy to welcome Carl Engstrom, a partner with Nichols Kaster, a plaintiff’s litigation firm who has secured over $100 million in ERISA settlements in the last few years. During our conversation, Carl does a great job sorting through some headlines and predictions that he agrees with and some that he does not agree with on the future direction of ERISA litigation.  As you will hear, Carl is not shy and shares his candid insights and predictions so I won't steal his thunder.  

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Guest Bio

Carl F. Engstrom is a partner at Nichols Kaster, PLLP, a plaintiff’s litigation firm located in Minneapolis, Minnesota.  As a founding member of Nichols Kaster’s ERISA litigation group, Carl has been counsel of record in every ERISA case brought by the group since its inception in 2015.  In that time, Nichols Kaster’s ERISA litigation group has helped negotiate settlements totaling over $100 million on behalf of defined contribution plan participants harmed by fiduciary self-dealing, excessive fees, and imprudent retirement plan investments. Notable settlements include cases against Deutsche Bank, American Airlines, Allianz Asset Management of America, Fujitsu, and BB&T.

Prior to entering the legal profession, Carl spent six years working as a financial advisor, providing retirement and investment advice to hundreds of clients, and earning the Certified Financial Planner™ designation, though he has not maintained his certification.  

Carl graduated magna cum laude from the University of Minnesota Law School and earned his undergraduate degree from Harvard College, where he also graduated with honors.

401(k) Fridays Podcast Overview

Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over 150 prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!