Mitchell Pollack & Associates PLLC
Your Solution Starts With A Phone Call
866-400-7388

How ERISA helps with employee benefits


The Employee Retirement Income Security Act, also known as "ERISA," was enacted in 1974 in an effort to administer rules for employers to provide pension and insurance benefit plans for retiring employees. The act also addresses pre-paid legal services, apprenticeship and training programs for employees, as well as scholarship funds and day care centers for children of employees.

Such benefits are not required by law, but are governed by ERISA after such a plan is offered to an employee. They do not include mandated benefits, such as unemployment compensation or workers' compensation, but ERISA does make sure that the interests of the employee are met and that such plans are properly handled by the employer.

Essentially, each plan must be managed by the employer to maintain an "exclusive benefit" to the participant and beneficiaries of the plan, such as immediate family members of the employee. The employer must avoid conflicts of interest during the decision making process of investment, and comply with specific guidelines on how and where the regulated funds are to be invested.

If you are an employee and believe your employment law benefit terms have been violated or compromised by your employer, you may be able to file a claim under ERISA. The claim will then go back to the plan administrator, who has 90 days to accept or deny the claim. If denied, a review will be given to the employee, who must respond within 60 days. If the issue is still unresolved, the employee may file a lawsuit under ERISA.

Source: findlaw.com "ERISA and Healthcare Plan Enforcement" Accessed June 23, 2015.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Ready To Resolve Your Legal Issues

You have a business to run. The team at Mitchell Pollack & Associates is ready to tackle your legal needs so you can focus on your responsibilities. Call 866-400-7388 or use our online contact form to schedule a meeting.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Tarrytown Office
150 White Plains Road
Suite 310
Tarrytown, NY 10591

Toll Free: 866-400-7388
Phone: 914-610-3418
Fax: 914-332-9191
Map & Directions

Mahwah Office
220 Franklin Turnpike
Mahwah, NJ 07430

Toll Free: 866-400-7388
Phone: 914-610-3418
Fax: 201-529-4400
Map & Directions