Employee Retirement Income Security Act (ERISA)

While ERISA was enacted as a safeguard for employees, it can also be a maze of complexities and nuances. ERISA is supposed to benefit employees, but employers and insurance carriers often hide behind it, relying on the fact that plan members don’t understand the law and their rights under it. This allows plan administrators and insurance carriers to take advantage, making ERISA, without an experienced New York and New Jersey ERISA attorney by your side, a hinderance rather than a help.

At Brustein Law, our mission to empower employees extends to safeguarding their financial well-being. We recognize the importance of understanding the intricacies of ERISA in New York and New Jersey, and we can guide you through the process, ensuring that you are benefitting from ERISA to the fullest extent, securing and protecting your financial future. Even licensed attorneys struggle to navigate the complexities of ERISA law without sufficient experience handling ERISA-specific issues, so it’s important you turn to a seasoned legal team who knows their way around ERISA.

What is ERISA?

Enacted in 1974, the Employee Retirement Income Security Act, universally known as ERISA, is a federal law which sets standards and regulations for private industry employers who offer pensions, welfare benefit plans, and retirement benefit plans to their employees. ERISA also often covers disability and life insurance benefits. Over 150 million Americans have a plan governed by ERISA. ERISA was put into place to protect the interests of employees participating in these plans by setting vital standards for plan governance, fiduciary responsibility, and the disclosure of plan information.

An ERISA retirement plan is a type of benefit plan established or maintained by an employer to provide retirement income to their employees. Some common forms of ERISA retirement plans include pensions, 401(k) plans, 403(b) plans, and profit-sharing plans. They are designed to create financial stability for employees upon retirement.

ERISA is a complex federal law that comes with its own rules and deadlines, and is strictly enforced by federal judges. The forms necessary to file ERISA claims and appeals are detailed and complex. That’s why you need a lawyer who has done this before, so you know it’s being done correctly.

Your Rights Under ERISA

As a participant in a plan governed by ERISA, you have certain rights under law, including:

  • Access to plan information: the right to accurate information about your plan, its features, and its funding.

  • Fiduciary accountability: the right to have all plan fiduciaries (plan trustees, plan administrators, members of the plan’s investment committee, etc.) to act with a duty of care and trust and to act in your best interest.

  • Claim appeals: the right to appeal any benefits claims that are denied.

How an ERISA Lawyer Can Help You

An ERISA attorney serves as a legal advocate, guiding individuals through the complex landscape of employee benefits and retirement plans governed by ERISA. Your attorney will protect your rights, safeguard your financial future, and fight for your best interests.

Your lawyer can help you in many ways, including:

  • Preparing and filing claims under ERISA plans including disability income, life insurance payouts, and retirement benefits.

  • Upholding your rights to accurate information, fiduciary accountability, and appeals.

  • Helping you understand your rights under ERISA and what protections and benefits it offers.

  • Appealing claims where plan members have been denied benefits.

  • Resolving disputes between employees, plan administrators, and insurance carriers.

  • Court representation for ERISA plan disputes and appeals, including class action lawsuits.

Contact Us Today

If you are navigating the complexities of ERISA, don’t take on this challenge alone. Turn to an experienced ERISA attorney who will make protecting your rights and safeguarding your future the first priority. Contact us today for a free and confidential consultation.