April 26th Meeting - ERISA
WHAT IS ERISA AND DOES IT APPLY?
ERISA, which stands for the Employee Retirement Income Security Act, is a federal law regulating
employer-sponsored group benefits. Nearly every employer, regardless of their size, is subject to
ERISA if they offer even one employer-provided group benefit such as health, dental, vision,
accidental death & dismemberment, disability, or group term life insurance; medical flexible spending
account or health reimbursement account; wellness and employee assistance program; or any other
benefit for which the employer contributes to the cost. The only exempt employers are churches and
government entities.
Besides requiring certain plan features, the law also mandates detailed reporting requirements, both to
the Department of Labor and other government agencies and to employees and covered members
under your policies. While ERISA was first enacted in 1974, recent changes under the Patient
Protection and Affordable Care Act (PPACA) have added additional requirements and changed
reporting deadlines.
Please join us on April 26th to welcome Soniya Khan, Benefits Advisor with the U.S. Department of Labor as she presents this topic for us! See you there!
Heather Hill
SEK-SHRM President
