Pension Plans

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Is your retirement plan governed by ERISA?

The Employee Retirement Income Security Act (ERISA) of 1974 was passed by Congress primarily to protect employee retirement benefits by establishing requirements to assure that promised benefits are delivered. One of the principal reasons that Congress was spurred to pass the ERISA law was the bankruptcy of the Studebaker car company in the 1960s. When the car maker failed, its workers learned to their surprise and disappointment that their promised pensions were not going to be paid to them […]

How long does disability retirement last?

If you suffer a disabling injury or illness and are a government employee or participate in a defined benefit pension plan, such as through a union, you may be eligible for a disability retirement pension, as distinct from or in conjunction with disability insurance. Disability pensions provide monthly payments to workers who are not yet […]

What is the Employee Benefits Security Administration?

You have likely heard of the Employee Retirement Income Security Act (ERISA) that establishes minimum standards for pension plans in private industry. But, do you know anything about the agency that manages it? To best understand ERISA, it is important to know the history and structure of the agency that manages it. Pensions have a […]

Pension obligations vs. religious exemptions: Does this make sense?

Pension plans consist of contractual promises made by employers to reward employees for their faithful and devoted service and also serve as a retention incentive to encourage employees to remain with their employers. However, the traditional defined benefit pension plan that promises a monthly lifetime annuity to workers and their spouses has been rapidly disappearing, […]