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What is ERISA? The Employee Retirement Income Security Act (ERISA) was enacted to ensure that employees receive the pension and other benefits promised by their employers. ERISA also incorporates and is tied to Internal Revenue Code (IRC) provisions designed to encourage employers to provide retirement and other benefits to their employees. Most provisions of ERISA and the IRC are intended to ensure that tax-favored pension plans do not favor the highest-paid employees over rank-and-file employees. ERISA has a complex series of rules that cover pension, profit-sharing, stock bonus, and most “welfare benefit plans,” such as health and life insurance. ERISA has created a single federal standard for employee benefits, and it supersedes almost all state laws that affect employee benefit plans. An employer's responsibilities under ERISA vary depending on the type of plan involved.
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158987index.aspxQuestions & Answers Our policies state that part-time employees don't receive benefits such as health coverage and vacation pay. We have part time employees who may be working full-time hours temporarily. Are we required to offer them benefits? 06/15/2009National
156446index.aspxAnalysis ERISA 03/04/2009National
153057tools.aspxChecklists ERISA Compliance Checklist 10/03/2003National
151602index.aspxQuestions & Answers What is an employers obligation under 404c with respect to our 401k and the available investment choices? 09/25/2003National
151601index.aspxQuestions & Answers Why would an employer not allow the full 415 contribution limit of 25%? 09/24/2003National
151600index.aspxQuestions & Answers Do you have information about Qualified Medical Child Support Orders? 09/11/2003National
151599index.aspxQuestions & Answers What is the deadline for providing summary plan descriptions to participants? 09/11/2003National
151598index.aspxQuestions & Answers Are SEP-IRAs considered a qualified ERISA plan, in other words, are they covered under ERISA? 09/10/2003National
151597index.aspxQuestions & Answers Does the employer have an obligation to make sure the money gets into the IRA accounts in reasonable time or can the employer hold on to the money once it has been deducted from the employees' paychecks for an undetermined time before depositing it i 05/22/2003National
151596index.aspxQuestions & Answers I've been told that my company is required by ERISA to hold annual 401(k) benefits informational meetings for our employees. Can someone point me to the code section so we can be sure we understand the requirements? 05/05/2003National
151595index.aspxQuestions & Answers We are a Non-profit 501(c)3 in the State of Florida - Is there a problem with discrimination rules if in a class of employee "ministers" that we have there is different benefits afforded to different members within that class? 02/21/2003National
151580index.aspxQuestions & Answers Can you recommend retirement plans? 11/18/2002National
151587index.aspxQuestions & Answers Have you heard of the "term "anti-cutback rule"? Is there a requirement to provide 60-day notice when changing a plan design (i.e.) raising deductible and out-of-pocket maximums? 09/10/2002National
151590index.aspxQuestions & Answers We're new to the 401K plans. We have an employee who will, in all probability be going on indefinite disability leave. When and if do we terminate the employee from the plan? 09/09/2002National
151589index.aspxQuestions & Answers We are a company with 38 employees and are talking about adding profit sharing as a benefit. Can you give me some guidelines to follow? 05/15/2002National
151584index.aspxQuestions & Answers Are employer paid, group long term care (LTC) plans subject to ERISA, and thus, the annual 5500 Return/Report requirement? 03/21/2002National
151588index.aspxQuestions & Answers With the failure of the 401(k) plan of Enron, are 401(k) plans covered by ERISA? If so, does protection under the Pension Benefit Guaranty Corporation kick in to cover part or all of the losses sustained by employees who had invested in the company's 12/21/2001National
151581index.aspxQuestions & Answers What is the law that only allows part-time employees to work 1000 hours per year? 12/17/2001National
151577index.aspxQuestions & Answers What is THE key factor(s) that make a benefit plan regulated under ERISA and not state? 10/24/2001National
151586index.aspxQuestions & Answers As long as we maintain a fully insured health plan and include the LLCs, do we have MEWA concerns? 08/14/2001National
151592index.aspxQuestions & Answers What is a recommended step by step process for starting a 401K program? Also, what is the best practice standard for employer match/contribution per employee? 07/18/2001National
151579index.aspxQuestions & Answers We had 2 employees who exceeded wages last fiscal year under our 401(k)plan, yet they do not exceed the wages for this year ($80K) Does ERISA say we have to keep them as HCE's for 2 years and out of the 401(k)? 06/12/2001National
151591index.aspxQuestions & Answers How long do you need to keep pension/401(k) records? 05/29/2001National
151578index.aspxQuestions & Answers Are there any regs preventing me from using a system under IRS Code 125, whereby if the dollar amount set aside for the cafeteria plan does not cover the full cost of insurance, then I can pay for the remainder of the premiums on a pre-tax basis? 05/25/2001National
151582index.aspxQuestions & Answers Do the disclosure and consent requirements of the Electronic Signature Act apply to electronic enrollments in ERISA plans? 05/24/2001National
151594index.aspxQuestions & Answers Can we offer cash instead of benefits to some employees (i.e. by location)? If so, what are the ERISA guidelines? 04/17/2001National
151583index.aspxQuestions & Answers Is it legal to provide different benefits for management than non-management employees? 03/30/2001National
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