Employer-sponsored retirement plans form the backbone of many long-term financial plans, and changes in retirement plan terms can significantly impact an employee’s future. Employers cannot make just any change to retirement plans. For modifications to be legally valid, your employer must comply with certain federal laws and follow procedures, ensuring you know about the changes […]
Issues with retirement plan management can significantly impact your long-term plans, future, and ability to retire on time. Identifying retirement plan errors early can help you take steps to protect your future. Knowing what obligations employers and administrators have can help you recognize retirement plan issues, like incorrect contributions and distributions, administrative errors, fund mismanagement, […]
The federal Employee Retirement Income Security Act (ERISA) regulates most retirement and health plans private employers offer employees. However, not every employee welfare plan falls under ERISA’s purview. Governmental entities, churches for their employees, and plans maintained solely for workers' compensation, unemployment, or disability laws are generally not covered by ERISA regulations. ERISA does not […]
Wondering if you can sue for ERISA violations? Contact John Peace at the Peace Law Firm today: 864-298-0500 The Employee Retirement Income Security Act of 1974, or ERISA, is a federal labor law that is specially designed to protect employees who receive a pension plan or an insurance plan from their employer. ERISA requires employers […]
In 1974, Congress passed The Employee Retirement Income Security Act (ERISA) to establish protections for private-sector employees who had health insurance or pension plans with their employer. Under ERISA, a wrongful denial of benefits can be appealed. In other words, you can take your employer to federal court if their actions resulted in an ERISA-related […]
Aside from wages and earnings in general, retirement benefits represent a sizable portion of one’s compensation. After all, these benefits are designed to allow us to retire one day while still bringing in enough money to live—ideally, to live comfortably. To help ensure that all American workers are able to retire, Congress passed the Employment […]
You work hard for job benefits. The Employee Retirement Income Security Act of 1974 (ERISA) helps ensure that your employer and benefit plan administrators work hard to protect your benefits when you need them most. What plans are subject to ERISA? Many retirement, healthcare, and insurance plans for non-church and non-government employees. At the Peace […]
Each new year brings opportunities for change to many parts of life—especially when it comes to your financial future—and 2025 is no exception. In this coming year, several new rules and updates in federal law will bring significant changes to 401(k)s, individual retirement accounts (IRAs), and other retirement plans. In this blog post, we’ll give […]
When people set up retirement accounts, they sometimes forget to designate a beneficiary. Or perhaps they named a beneficiary, but their relationship with that person changed. A beneficiary will receive the benefits of your plan upon your death. The last thing you want is your hard-earned money to go to someone who is no longer […]
Americans paid $2,194,625 for personal health care in 2010. In that same year, private health insurance companies spent $849 billion and recovered an estimated $1.7 billion to $2.5 billion through subrogation. If you have filed a lawsuit against someone who injured you, and you received health benefits from a private employer, your health insurance company […]