In the case O'Connor v. Commonwealth Gas Co., the court ruled that the nature and extent of an employer's benefit obligations determine whether a severance or early retirement incentive program is an ERISA plan. To be an ERISA plan and trigger ERISA's oversight, the plan or program, ...
A Single Premium Immediate Annuity (sometimes referred to as an "SPIA") may be the right annuity for you if you are looking for payments that begin right away and continue for the rest of your life or for a specified period of time. The annuity is purchased from an insurance company ...
What is a defined contribution plan? What is considered an employee benefit plan under ERISA? What is the importance of contingency planning? What is the purpose of strategy in an organization? What does guarantor mean on a medical form? What is a Keogh plan? What is financial health? What...
Definition of benefit plan by ERISA; Relationship between the managed care organization and health care providers; Restrictions on the public policy measures.GoodyearJustinEBSCO_AspColumbia Law ReviewGoodyear, J. (2001). What is an employee benefit plan?: ERISA preemption of ‘any willing provider...
What is an employee stock ownership plan? At its core, an ESOP is an ERISA-authorized retirement plan that invests in employee securities. Company stock is either issued or sold to an employee trust. As a result, ESOPs enable closely-held companies to sell equity, at an independent valuatio...
Such an annuity is referred to as a Secondary Market Annuity (SMA), where a contractual future cash flow is being sold by its owners in exchange for a lump sum today.There are elements of secondary market annuities which are similar to immediate annuities, for example, when the purchased ...
What is a defined contribution plan? What is considered an employee benefit plan under ERISA? What are some of the advantages of bonus plan incentives? What is a cafeteria-style benefit plan? What are discretionary benefits? Define in-kind benefits ...
Every retirement or benefits plan under ERISA must name at least one fiduciary in the written plan document. Afiduciaryis someone who acts with the responsibility of care for the money, property, or interests of someone else. A plan may have several fiduciaries, including a trustee, an investme...
A QRDO is used to divide retirement plan assets in a divorce. It can only be used forretirement plans covered by ERISA. This includes qualified plans, such as 401(k)s, but not IRAs. Typically filed by an ex-spouse, a QRDO must be approved by both the plan administrator and a court...
A limited VEBA plan, however, can reimburse only medical and vision expenses. Meanwhile, money in a post-employment VEBA plan can be used only after an individual has retired or left employment with the VEBA’s sponsor. When a VEBA plan is paired with aHealth Savings Account (HSA), VEBA ...