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What Missouri Workers Need to Know About ERISA (Part A)

The Employee Retirement Income Security Act (ERISA) is a federal law established in 1974 that provides protection to workers with employer-maintained pension plans. ERISA regulations protect your retirement funds by requiring certain information to be disclosed as well as adequate funding and guaranteed payments of benefits.

Unfortunately, there are many cases where ERISA regulations are not upheld, either by your employer or by the insurance companies. A St. Louis ERISA lawyer can help you fight these cases should any misconduct arise in relation to your employee benefits.

Who and What are Protected by ERISA Regulations

The ERISA regulations protect pension plans in private industry from being unfairly maintained.
They are effective for any pensions that began on or after January 1, 1975. The ERISA regulations do not mandate that all employers establish pension plans, they only regulate the conduct for those that choose to do so.

If your employer has established a pension plan for your benefit, the ERISA regulations protect you and your family or beneficiaries.
Your rights to disclosure about the pension plan information, standards for funding, accountability of fiduciaries, entitlement to benefits, and how the plan is handled upon your death are all parts of the ERISA regulations.

ERISA Regulations Give You Access to Information

The ERISA regulations not only require your pension plan to furnish certain pieces of information about your plan on a regular basis, but also give you the right to request information at any time. When you need to file a claim in relation to a violation of your employee rights your St. Louis ERISA lawyer may use this right to obtain the information necessary to validate your claim.

ERISA regulations also allow you the right to sue for benefits and breaches of fiduciary duty. The actions of the pension plan's fiduciary members must be monitored and if they are found to have breached their responsibilities to the plan they must be held accountable. You are entitled to the information regarding their conduct in managing the pension plan and providing investment advice, and should you need to file a grievance against the plan, a St. Louis ERISA lawyer can help.

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