The Employee Retirement Income Security Act of 1974 (ERISA) is the primary federal law that governs employee benefit plans, including group health and welfare plans. ERISA has been around for over 50 years, but the requirements for group health plans can still be quite confusing.
Join us as we go back to the basics and discuss the most important aspects of the law from a high-level perspective. We will cover topics such as identifying benefits subject to ERISA, fiduciary roles and obligations of plan sponsors, and reporting and disclosure requirements. Whether you are new to the industry or an experienced benefits professional, you will gain a better understanding of ERISA and how it impacts your role.
Agenda
- Overview: ERISA
- ERISA Requirements
- ERISA Fiduciary Obligations
- ERISA Enforcement: The DOL
- Penalties
- Key Takeaways
- NFP Resources
Key Takeaways: Employer Considerations
What are the key takeaways for employers?
- Understand key ERISA concepts, including the fiduciary obligations imposed by the law.
- Understand ERISA written plan document basics, including wrap document and SPD/Plan document requirements.
- Understand the Form 5500 filing requirement.
- Understand the requirements for electronic distribution.
NFP Benefits Compliance Resources
For further information on the topics discussed during the presentation, please ask your broker or consultant for a copy of the following NFP publications:
- Electronic Distribution Rules: A Guide for Employers
- ERISA Compliance Considerations for Health and Welfare Benefit Plans
- ERISA Fiduciary Governance: A Guide for Employers
- Form 5500: A Guide for Employers
- Required Group Health Plan Notices Overview
- Summary Annual Report: A Guide for Employers
