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LSDefine

Simple English definitions for legal terms

welfare plan

Read a random definition: hanse

A quick definition of welfare plan:

A welfare plan is a type of employee benefit plan that provides various benefits to employees and their families. These benefits can include medical care, disability coverage, life insurance, retirement savings, and more. Employers establish and maintain these plans to help attract and retain employees. Welfare plans are regulated by the Employee Retirement Income Security Act (ERISA) and can be a combination of different types of plans, such as pension plans and defined-contribution plans.

A more thorough explanation:

A welfare plan is a type of employee benefit plan that provides various benefits to employees, officers, and advisers of a company. It can include medical, surgical, or hospital care, benefits in the event of sickness, accident, disability, death, or unemployment, vacation benefits, apprenticeship or other training programs, daycare centers, scholarship funds, prepaid legal services, or holiday and severance benefits.

  • Employee Benefit Plan: A written plan that provides stock-purchase, savings, option, bonus, stock-appreciation, profit-sharing, thrift, incentive, pension, or similar benefits solely for employees, officers, and advisers of a company.
  • Defined-Benefit Plan: A retirement plan that provides systematically for the payment of definitely determinable benefits to employees over a period of years, usually for life, after retirement.
  • Defined-Contribution Plan: A retirement plan in which each participant has a separate account funded by the employee's and employer's contributions, and each participant's benefits are based solely on what has accumulated in the participant's account.

These examples illustrate how welfare plans can provide various benefits to employees, such as retirement benefits, stock options, and other incentives. They can be either defined-benefit plans or defined-contribution plans, depending on how the benefits are determined and distributed.

Welfare Clause | Welfare Reform Act

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11:11
Why is it taking so long for WashU to get back to me. Ppl are getting acceptances in a month or less
letsseehowitgoesnow
11:11
...
triplethread
11:11
@BookLover125: RETWEET
triplethread
11:12
is it bad i lied about getting into case western bc my parents are bugging me about my first a
@BookLover125: they are so impressed with your application they are renaming the library after you before admitting you
Do you know not everyone says they were ED?
11:12
No they shouldn’t be bugging you this is stressful enough without them adding More. Do what u gotta do
11:13
Got jokes I see
triplethread
11:13
its sooo stressful and im not even done applying
Just apply and get the A lol
triplethread
11:13
got like 3 more apps
there should be a law school draft akin to the NFL Draft where law schools can recruit us
or a MaxPreps esque high light video where Deans can rank us
1a2b3c4d26z
11:15
In this analogy is the LSAT the NFL combine
JumpySubsequentDolphin
11:16
I told my family I won’t get any decisions until 2025 so they wouldn’t bombard me hahah
no i think there should be a Law School combine with all new drills except there is still the 40 yard dash
and a sub 4.5 gets you into any t14
LSAT can be one of the drills
letsseehowitgoesnow
11:17
so washu only called one person
So all the D1 athletes will get into a T-14. What else is new?
@TheAdoptedOne: that is called "Dean Poker Night" lol
@ClockworkBlue: I feel like most people could train for the 40 for the same amount of time as they do the LSAT and get close to sub 5 which would be equivalent to a 167+
this is like the schizophrenic posts JJK tik tok be putting out
powerscaling Law School deans up next
11:19
Election Day election day
Write in Dean Z vote
11:20
Saw a guy that wrote in Biden and he said no retirement for you buddy
1a2b3c4d26z
11:20
@ClockworkBlue: god I hope that's true
if the country was run the same as Mich Law it would be a better place
Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."
LSD+ is ad-free, with DMs, discounts, case briefs & more.