Getting Familiar With ERISA
When you face a legal issue regarding employee benefits, understanding your rights under the Employee Retirement Income Security Act (ERISA) is crucial. Todd Krauss, APC offers proficient legal support for disability claims governed by ERISA and ensuring you tackle these complex issues with confidence.
What is ERISA?
ERISA stands for the Employee Retirement Income Security Act of 1974. It is a federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry to provide protection for individuals that are supposed to be protected by these plans. ERISA requires plans to provide participants with plan information including how to apply for disability benefits and what is required to support a person’s claim. The insurance company must is required to establish an appeals process for participants to get benefits from their plans; and gives participants the right to sue for benefits and breaches of fiduciary duty.
How ERISA Impacts You
If you are a participant in an employer-sponsored benefit plan, ERISA impacts you by safeguarding your right to receive benefits. This act governs many types of benefit plans including retirement plans, welfare benefit plans, and disability insurance. Its provisions are designed to ensure that plan funds are protected and delivered in accordance with the plan document.
Todd Krauss, APC deals with plans regarding a person’s disability and inability to work due to injury or illness. For example, if you have been denied a benefit claim, ERISA provides a process for appealing the decision, which can include internal reviews and, if necessary, filing a lawsuit. Our ERISA lawyer in Los Angeles has extensive experience in handling such claims, and more details can be found on this page. If you are not in Los Angeles, we can help you as well as Todd Krauss, APC has handled disability claims across the United States.
Key Points to Remember About ERISA
ERISA, while comprehensive, involves several key aspects that anyone involved with employee benefit plans should understand. Here are some crucial points to keep in mind specifically regarding disability claims:
- Coverage Scope
ERISA covers a broad range of benefit plans including retirement, health, and other welfare benefit plans such as life insurance, disability insurance, and apprenticeship plans. The stringent rules generally do not cover plans established or maintained by government entities or churches for their employees, nor plans maintained solely to comply with applicable workers compensation, unemployment, or disability laws.
- Participant Rights
ERISA grants participants the right to receive information about their plans, including details about plan features and funding, and information regarding their rights and responsibilities under the plan. Most importantly, participants can request (in writing) the Summary Plan Description (SPD) and Plan Documents which explains everything about the policy and all applicable definitions you need to be aware of.
- Appeals and Grievances
ERISA mandates that all benefit plans provide a clear and fair process for handling appeals and grievances from participants who have been denied benefits. This process must be followed before a participant can file a lawsuit.
- Legal Recourse
Participants have the right to sue for benefits and breaches of fiduciary duty. ERISA also protects an employee’s right to secure benefits without fear of retaliation from the employer.
- Reporting and Disclosure
ERISA requires that plan sponsors provide detailed reports to the federal government. These include Form 5500, which details the operation and condition of plans, helping to ensure transparency and accountability.
If you face issues with your disability claim or have questions about your rights under ERISA, Todd Krauss, APC can provide the necessary legal assistance. As a dedicated Encino disability lawyer, the firm understands the critical nature of these benefits and the impact they have on individuals’ lives.
Choose Todd Krauss, APC!
Choosing the right legal representative is paramount when dealing with ERISA and disability claims. Todd Krauss, APC holds a strong reputation with insurance companies throughout California and across the United States for defending the rights of individuals in these complex legal matters. With a thorough understanding of both federal regulations and state nuances, Todd Krauss, APC stands ready to assist you in securing your entitled benefits.
If you are looking for a reliable and knowledgeable attorney to help with your disability or retirement benefits claim, contact us today for a consultation to discuss how we can assist in your legal needs.
