Plans that are excluded under ERISA include: (1) governmental plans (2) church plans (3) plans maintained solely for complying with workers’ compensation or disability insurance laws (4) plans maintained outside of the U.S. for the benefit of non-resident aliens, and (5) excess benefits plans. Other types of plans have been excluded by several ruling issued … Continue reading WHICH PLANS ARE NOT COVERED UNDER TITLE I OF ERISA?
-Obtain Plan Documents -Summary Plan Description Wrap Document -Summary of Material Modification -Summary of Material Reduction in Covered Services or Benefits -Form 5500-5F (as applicable) -Accountant’s Report -Summary Annual Report
Plans that are covered by ERISA includes (1) an employee benefit plan (2) established or maintained by an employer or employee organization representing employees (3) engaged in commerce or in any industry or activity that involves commerce.
The Employee Retirement Income Security Act of 1974 (ERISA), was passed on September 2, 1974 and went into effect January 1, 1976. The act applies to retirement and welfare plans. ERISA is administered by the Employee Benefits Security Administration (EBSA). Along with EBSA several groups have the statutory and regulatory authority to enforce the provisions … Continue reading WHAT IS ERISA?
