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LSDefine

Simple English definitions for legal terms

ERISA

Read a random definition: Lawrence v. Texas

A quick definition of ERISA:

ERISA: A law that sets rules for how companies manage their employees' retirement plans. It also gives employees the right to sue their employer if they don't follow these rules. If an employer breaks the rules, they have to make things right by giving the employee the money they lost. The law also says that the person in charge of the retirement plan can't be the same person who decides who gets the money. This is to make sure that the person in charge doesn't make decisions that are bad for the employees.

A more thorough explanation:

ERISA stands for the Employee Retirement Income Security Act of 1974. It is a federal law that sets minimum standards for how private industry pension plans are managed and how federal income taxes affect these plans. ERISA also gives employees the right to sue their employers if they breach their fiduciary responsibilities.

For example, if an employer fails to properly manage a pension plan and an employee loses money as a result, that employee can sue the employer for breach of fiduciary duty. The remedy for this breach is equity, which means the employee can seek "make whole money" to replace the amount lost.

ERISA also requires that plan managers cannot have both the responsibility of determining a participant's eligibility to receive benefits and the responsibility of paying the benefits. This creates a conflict of interest, which the court can consider when reviewing the reasonableness of an administrator's decision.

Overall, ERISA is important because it helps protect employees' retirement savings and ensures that employers are held accountable for properly managing pension plans.

Erie doctrine | erroneous

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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