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FIRST ON 3: Local attorney looking for DAK employees jipped on retirement

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WILMINGTON, NC (WWAY) -- Wilmington attorney Mitch Baker is trying to track down all of the former DAK Americas employees who had errors in their retirement plans.

As we first reported earlier this month, DAK admitted it had had "system errors" which cut employees' retirement packages.  One laid off worker we talked with said he lost some $100,000.

When the DAK Americas Cape Fear Plant closed its doors in September, some employees chose to retire early.

According to Baker, the company worked on those retirement plans for a year.

"Each person could login and tell what they were going to get monthly, or lump sum; they made their decision based on that,” he said.

Those who opted to take the lump sum got a letter from Transamerica about two months after they received the checks.

DAK Americas told employees that if they had spent the money, they would have to return it.

"They paid off their house or bought annuities. If they had to pay it back they would have a lot of damages or some can't pay it back,” said Baker.

Baker said those people should not be responsible for paying that money back. 

He says the employee and DAK Americas signed an end of employment release which outlined the agreed amount of money that would be paid out.

“If there was a problem with their outside company, Transamerica who was a trustee, then their lawsuit with Transamerica, not our clients,” said Baker.
 

Baker will begin a campaign soon trying to find all of the workers involved.  He contends the employees that have a dispute have legal rights against the company.

Baker says former DAK workers should call (910) 777-5733 for more information.

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I don't know anything about

I don't know anything about Mitch Baker, but the DAK employees who do contact him, or any other lawyers, should find out what the lawyer expects to get out of this before they agree to hire them. Make sure they are looking out for your interests and and not their own.

The miscalculation of retiree benefits...

lays solely in the lap of Transamerica Life Insurance Company...who administered the plan. DAK was the source of the funding...not the calculation of benefits.

So he can score a fat

So he can score a fat settlement that gets him half a mil and the retirees a coupon for half off a ball of yarn.

Eric

I always like the way you see the positive things in life. I guarantee they will get more than they have now. So, what's wrong with that?

Get the name right,

Get the name right, guestwoman. My point is most class action lawsuits end with huge payouts for the lawyers and diddlysquat for the plaintiffs.

The DAK retirees should not hold their breath for this lawyer to win them a fat wad of cash.

Eric

Still the same old uplifting Eric. Where does it say this is a class action lawsuit? You, as always, are just making up stuff so your little mind can feel important.

Guestmaleimpersonator, I am

Guestmaleimpersonator, I am questioning the motives of this lawyer. And warning the retirees to do some due diligence in going after DAK. Taking a passive role and waiting for whatever lawyer comes their way is not prudent. Its called reality and personal responsibility.

Serves Them Right

I was employed there off and on and up until the lay off a few months ago. I'm glad legal action is being taken against DAK. Could not tell you how many times other employees would tell me the unfair politics that site did.