Employee Retirement Income Security Act of 1974


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Employee Retirement Income Security Act of 1974

,

ERISA

A federal law that protects individuals covered by voluntarily administered health insurance and pension plans. Important amendments to ERISA are the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), the Health Insurance Portability and Accountability Act (HIPAA), Newborns' and Mothers' Health Protection Act, Mental Health Parity Act, and the Women's Health and Cancer Rights Act.
References in periodicals archive ?
Such plans are subject to the requirements of the Employee Retirement Income Security Act of 1974.
have introduced legislation intended to curb private pension plan fraud by amending audit requirements under the Employee Retirement Income Security Act of 1974 (ERISA).
The National Coordinating Committee for Multiemployer Plans (NCCMP) praised Congress for its actions, commending lawmakers on having the courage to recognize and respond to the need for bold action to change rules established over three decades ago with the enactment of the Employee Retirement Income Security Act of 1974.
The Department of Labor (DOL) has ruled that Title I of the Employee Retirement Income Security Act of 1974 (ERISA) will not apply to employee health savings accounts (HSAs) when employer involvement with the HSA it limited, even if the employer sponsors the employee's health plan.
In addition, numerous federal laws (such as the Age Discrimination Employment Act of 1967, the Occupational Safety and Health Act of 1970 (OSHA), the Employee Retirement Income Security Act of 1974 (ERISA), the Emergency Planning and Community Right to Know Act of 1986, the Americans with Disabilities Act of 1990 (ADA) and the Family Medical Leave Act of 1993) impose compliance costs on businesses when the number of employees exceeds certain thresholds.
The Supreme Court recently held that the working owner of a business may qualify as a "participant" in a pension plan covered by the Employee Retirement Income Security Act of 1974 (ERISA), provided the plan covers one or more employees, other than the business owner and his or her spouse.
Because these agreements involve the deferral of income and a benefit payable after retirement or termination of employment, they are subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA).
P filed a class action lawsuit against B, alleging that B had miscalculated lumpsum distributions to participants (and their beneficiaries) in violation of the Employee Retirement Income Security Act of 1974.
To prevent abuses by individuals or organizations that are in positions of trust or influence, both the Internal Revenue Service (through the Internal Revenue Code) and the Department of Labor (through the Employee Retirement Income Security Act of 1974 [ERISA]) established rules prohibiting certain dealings and transactions between the plans and such persons or organizations.
The DOL did point out that the selection of an IRA trustee and the choice of IRA investments are fiduciary acts, subject to fiduciary standards and the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974.
Under the Employee Retirement Income Security Act of 1974 (ERISA), employee benefit plans with more than 100 participants are required to have annual audits conducted in compliance with generally accepted auditing standards.

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