How many of you know what the Erisa rules are or what they have to do with? I’m guessing not many people. However, I am willing to bet you will be thankful for them once I tell you what it does. In the United States, ERISA was developed in order to protect the pension and retirement plans of people who are and have been employed. According to the ADA, about 1/3 of Americas that over the age of 65 are disabled. That is a large number, and not all of those people have a disability claims lawyer. Many people do not think they need a lawyer, but now it is almost becoming necessary because of the way some businesses are treating their employees who are disable or retired. Those who have disability are not always aware of what they deserve. ERISA requires that participants are provided with important information in regards to their funding, and regulation an a normal basis. The ERISA definition is very wordy, so in short it just allows for peoples plans to be protected. Some companies try to stop covering their employees disabilities, in this case the employee may need a lawyer. ERISA law is able to protect those people who have plans. Participants have the right to sue for benefits and breaches of fiduciary duty. This was set up in 1974 by the Employee Retirement Security Act.A lot of companies will stop trying to cover employees under disability. It can become to costly for them and they find it more of a nuisance than anything. ERISA rules help to protect these people when companies attempt to discontinue their disability benefits. ERISA requires employers that have their own private benefits to give a summary of their plans to their employees within 120 of the benefits being active. If this does not happen, the company can get in a lot of trouble for not informing the employee as to what they deserve. The ERISA laws provide employees the safety they require when getting disability. When employees are receiving disability they should get everything they are entitled to, even though the employer may not feel the need to do so. Thanks to ERISA requirements, they are made to do so. Read more articles like this: herbertmhill.com
Is your Company not Giving you your Disability?