Employee Retirement Income Security Act (ERISA)
The Employee Retirement Income Security Act (ERISA) is a federal law that was passed in 1974 to set standards for certain employee benefits offered by private sector employers. In an ERISA plan, the employer is typically held responsible for properly managing the plan and paying employees their rightful benefits. If for some reason an employee does not receive the benefits that he or she is due, the employer may be held liable for the financial loss.
Types of Benefits
An ERISA benefit plan may include many different types of payments or insurance that employees can take advantage of. Some of the benefits typically offered by private sector employers under ERISA include:
- Short-term and long-term disability
- Health insurance
- Pension plans
- Welfare benefits
- Retirement benefits
Under ERISA, an employee has the right to initiate a lawsuit against the party that is responsible for managing his or her plan. Often this lawsuit is brought against the employer, but it may also be pursued against an insurer that refuses to pay for medical bills or other costs that are supposed to be covered under ERISA.
Contact Us
If you believe that your employer or insurance company is withholding benefits that you are rightfully owed under ERISA, don’t hesitate to contact the federal employment attorneys at the Vaughn Law Firm to discuss your legal rights and options.
