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 complicated history in the United States dating back to the Progressive Era of the early 1900s. Many agencies have been involved in the management and regulation of pensions since then.

The Employee Benefits Security Administration (EBSA), which falls under the Department of Labor, is tasked with the administration, regulation and enforcement of Title I of ERISA. The EBSA is in charge of one aspect of ERISA, but the agency was founded in 1970 before the law was passed in 1974. Prior to ERISA, the EBSA and the Department of Labor shared a somewhat overlapping role with the Internal Revenue Service in the regulation of pensions.

How did ERISA affect the EBSA?

Since ERISA passed in 1974, the titles of the law have clarified the job descriptions of each agency. Title I, which is the responsibility of the EBSA, protects the interests of employee benefit plan participants and beneficiaries. Title II, which is the responsibility of the IRS, defines the standards of employee benefit plans to receive favorable tax treatment under the law.

In simpler terms, the EBSA protects the interest of those invested in pension programs while the IRS protects the government’s interest in funding the law.

Expansion of the EBSA

Key pieces of legislation have expanded the authority of the EBSA since 1984. Laws related to HIPPA, fiduciary investment, and responsibility, rights of beneficiaries and health care requirements of government employees now fall under EBSA.

The agency now employs 1,000 people in Washington D.C. and is led by the Assistant Security of Labor for Employee Benefits, a position that is filled via Presidential nomination and confirmation by the Senate.

When should you go to a lawyer versus the EBSA?

You can file a report against an employer through the EBSA. The agency will investigate your claim and seek action against the employer, but they do not have the capacity to seek compensation on your behalf.

Because ERISA law is complex, government agencies can be inefficient in the handling of your claim. This is where a claims law firm can step in to help aggressively defend your rights and the benefits owed to you.

Related Articles

ERISA Venue Provisions: Where Can You File Your Benefits Lawsuit?

ERISA Venue Provisions: Where Can You File Your Benefits Lawsuit?

The Employee Retirement Income Security Act of 1974 (ERISA) governs private sector employee benefits plans, including retirement, disability, and health plans. One of the key aspects of ERISA litigation is the question of venue — where participants or beneficiaries file their lawsuits when they believe their plan rights are violated. […]

How to File a Winning ERISA Claim

How to File a Winning ERISA Claim

If you have an employment-related benefit claim, ERISA likely applies to your claim. ERISA claims involve complex rules and strict deadlines that can be challenging and challenging to navigate. […]

Disability Ruling Guides On Cases With Uncertain Causation

Disability Ruling Guides On Cases With Uncertain Causation

Deciding disability benefit claims correctly can often pose a challenge for both claimants and insurers. Since disability is dependent on functional restrictions and not just on a diagnosis, determining a claimant’s level of functionality with respect to basic activities such as sitting, standing and walking can be difficult, especially when disability results from symptoms such as pain. […]