What is ERISA?
The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that protects employees’ retirement savings in the United States.
ERISA was enacted to ensure workers would have adequate resources for their retirement by providing them with pension coverage, guaranteeing the payment of promised benefits, and safeguarding funds from mismanagement.
ERISA governs employers who make contributions to a health or retirement plan. Employer-sponsored plans funded by employee contributions or employer contributions are ERISA eligible plans.
ERISA provides strict guidelines for employer-sponsored pension plans, ensuring that these plans are well-managed and provide adequate benefits to workers.
What’s an ERISA Litigation Case?
ERISA litigation cases involve a dispute with an employee benefits plan. The plaintiffs in these cases typically have been declined coverage from an insurance company, denied access to their benefit, or excluded from a benefits plan.
The plaintiff in the case may be a current or former employee who is enrolled in a retirement plan or who has had insurance coverage through the employer for disability, hospitalization, dental care, vision care, long-term care, and more.
A lawsuit involving ERISA may be filed by an employee or by the government on behalf of employees who are not receiving all of their healthcare plan benefits. The lawsuit may also concern violations of other provisions in ERISA that relate to pension and retirement plans or retirement health care coverage.
The employee can file a lawsuit in either federal court or state court. ERISA litigation must be filed in the district where the plan is handled, where the alleged breach occurred, or where a defendant lives or might be located.
Other forms of ERISA litigation include breach-of-contract claims, which involve those who have been wrongfully denied their benefits, as well as those who have been wrongfully refused benefits by their fiduciaries.
ERISA lawsuits are complex and expensive matters, which is why employers need to be proactive and avoid legal liability by establishing a robust policy that addresses all aspects of an employee’s benefits and coverage.
Protecting Your ERISA Rights
Employers and employees need to know their ERISA rights and responsibilities. This will ensure they are not taken advantage of by dishonest companies or insurance plans. Since the law can be complex and can often change, it’s important to consult a lawyer who specializes in ERISA law, ensuring that you get the best advice and know your rights as an employee or employer.
As more breaches occur, ERISA litigation has increased. Having the right legal representation is important. Talk to a lawyer specializing in the type of case you are dealing with. Contact Hasson Law Group LLP at (678) 701-2869 to talk with an experienced ERISA litigation attorney who can help you protect your future.
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