The Employee Retirement Income Security Act establishes standards to protect your retirement, health and other work-related benefits. If your Delaware employer fails to adhere to these standards, they might be committing ERISA violations.
Recognizing these violations empowers you to safeguard your rights. This knowledge will provide you with the means to assess if your employer is breaching ERISA standards.
Understanding ERISA and its purpose
ERISA ensures that your employer upholds the terms of the plan it offers, provides you with plan information and manages the plan’s assets responsibly. It covers plans like pension, health insurance and other benefit plans.
Recognizing violations in managing plan assets
One common ERISA violation occurs when an employer mismanages plan assets. If your employer uses the plan’s assets for their benefit or engages in transactions that harm the plan, they are violating ERISA. Keep an eye on any suspicious activities relating to the management of your plan’s assets.
Identifying denial of benefits or information
Another violation can occur when your employer denies you benefits that you should receive under the plan or fails to provide you with information about the plan. This could include not giving you updates about changes in the plan or denying you access to plan documents.
Finding discrepancies in plan descriptions
Watch for discrepancies between the plan description given to you and the actual terms of the plan. If your employer gives you an inaccurate plan description, they are not meeting ERISA requirements.
Spotting unfair treatment
ERISA prohibits your employer from unfairly treating you for asserting your rights under the plan or ERISA. If your employer retaliates against you for asking about your benefits, they are committing a violation.
By understanding what an ERISA violation is and keeping an eye out for the signs, you can ensure that your rights and benefits remain protected. Your employer has a legal obligation to adhere to ERISA standards, and you have a right to expect them to uphold this obligation.