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 ?
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.
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.
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.
Legislation now being debated in the House and Senate could substantially alter audit requirements under the Employee Retirement Income Security Act of 1974 (ERISA).
Direct filing is optional for CCTs, PSAs, GIAs and 103-12 IEs However, such direct filing can substantially reduce a plan's filing requirements or costs associated with such entities; see Employee Retirement Income Security Act of 1974 (ERISA) Regs.
Further, there are provisions in the Employee Retirement Income Security Act of 1974 (ERISA) and other legislation that can pierce the corporate veil.
Most Employee Retirement Income Security Act of 1974 (ERISA) plans report on an accrual or modified cash basis; specifically, they accrue the employer contribution.
To avoid many of the burdensome requirements of the Employee Retirement Income Security Act of 1974 (ERISA), a SERP must qualify as a "top-hat" plan--that is, a plan that is unfunded and maintained by the employer primarily to provide deferred compensation to a select group of management or highly compensated employees.
Boggs, the Supreme Court held that the Employee Retirement Income Security Act of 1974 preempted state law, thus disallowing the bequest of a nonparticipant spouse's community property interest in her participant spouse's pension plan.

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