Index
Employment LawUnited States

Employee Retirement Income Security Act (ERISA)

Summary

Sets minimum standards for most voluntarily established retirement and health plans in private industry.

Rights & Rules

  • 01.
    Right to receive information about your benefit plan's features and funding
  • 02.
    Right to file a claim for benefits and appeal if denied
  • 03.
    Right to hold plan administrators accountable for managing plan assets

Penalties

  • 01.
    Personal liability for plan fiduciaries to make up losses
  • 02.
    Removal of plan fiduciaries
  • 03.
    IRS excise taxes on prohibited transactions

Verified Citations

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