Know Your ERISA Law Rights

Overpayment of private disability claim pa

You had an injury during your previous job that kept you on the sidelines for several months. You not only have landed your next job, but you already have a start date. One problem – your previous employer is trying to cut back on your benefits while you are disabled. If this is happening to you, meet with a long term disability lawyer and find out what is ERISA law.

ERISA is a federal law that establishes minimum standards for pension plans in private industry and provides for extensive rules on federal income tax effects of transactions associated with employee benefit plans. ERISA does not require that an employer provide heatlh insurance to its employees or retirees, but it operates the regulation of a health benefit plan if the employer chooses to set one up. The interpretation and enforcement of ERISA is divided among the IRS, the Department of Labor, and the Pension Benefit Guaranty Corporation. Under ERISA, if the application for benefits in association with a private benefit plan is incomplete, the applicant must be notified within 45 days that the application is incomplete.

According to the Social Security Administration, there were an estimated 2,820,812 applications submitted for disability benefits during 2012. The two main types of pension plans in the United States are defined benefit plans and defined contribution plans. ERISA laws do not employers to establish pension plans. Under ERISA pension plans must provide vesting of employees’ pension benefits after a specified minimum of years. ERISA requires that employers who sponsor plans satisfy certain minimum funding requirements.

ERISA plans are immune to state regulations, but some states have been able to modify ERISA loopholes. The most important exceptions, which survive despite the fact they relate to an employee benefit plan, are state insurance, banking, or securities laws. A three-part analysis is used to determine whether ERISA preempts state law. State insurance regulation may be saved only to the extent that it regulates genuine insurance companies or insurance contracts.

When you are hurt and you are not getting your proper benefits, you must figure what is erisa law. If you have questions, contact a long term disability lawyer. You have rights, and do not let them get trampled on by an employer. Get more on this here.