Category Archives: Breach of Contract

Breach of contract is a serious claim involving one or more parties violating a legal agreement

My Employment Pension is In Jeopardy: What Can I Do?

Dallas firefighters and police officers are in the midst of dealing with a crisis involving employment pensions. The pension plan is greatly underfunded. Lawmakers are working on redesigning the plan which will cut back on other benefits moving forward, but will return the money to the pension fund. Due to managing the plan negligently, now workers who have worked for the city their whole lives are worried their retirement funds will disappear. The pension fund is designed to be fully operational in 40 years. Until then, workers will have to work later in life and get fewer benefits. The police and firefighters in Dallas are facing an employee shortage because of this. Your benefit plans should be specified in your employment contract, and if an employer breaches that contract, they can be held accountable. What Kind of Contract Did You Sign? Explicit contract: These are physical documents with terms that…
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Should You Have an Attorney Review Your Noncompete Agreement?

Noncompete agreements are designed to protect employers from unfair competition and leaking of private company information. However, there is a line of employee freedom that should not be crossed by these agreements. You are not legally required to sign these agreements, but the employer has the right to not hire or fire you for not signing it depending on your state’s laws and the reasonability of the agreement. There are several factors that determine if the agreement will hold up in court. Factors for Determining Noncompete Agreement Legitimacy: Interest: Is the agreement serving to protect something legitimately important in regards to the company’s wellbeing? Are there trade secrets or important assets at stake? Scope: How far of a geographic range is covered by the agreement? Will this be too much of a constraint on the employee in finding new work? Time: Are the length of the restrictions reasonable? Range of…
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What Caused the Dallas Police Pension Fund Debacle?

In case you missed it, The Dallas public pension system, which supports pension funds for policemen and firemen, is amid a financial crisis. A year ago, even, the plan was estimated to become insolvent within 15 years. Now, because of the mass exodus of funds, that number has shrunk to a measly five to eight years. That’s what exacerbated the situation, but what caused it? The Causes of the Pension Fund Debacle Reckless pension promises – The pension scheme depended on investment returns of around nine percent a year. This number is unwisely high, considering the thirty-year yield on treasury bonds has been about two and a half percent. By itself, though, this risky scheme wouldn’t have caused the fund to be any more underfunded than the average local-government pension fund. Poor investment decisions – Investment problems began back in 2006, when the Board attempted to reduce risk on equities…
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