California ERISA Benefits Lawyer
ERISA Insurance Claim Lawyers Fighting For The Rights Of California Policyholders
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Since 1991, our insurance lawyers at Pillsbury & Coleman, LLP, have successfully helped the employees and residents of California in getting their insurance benefits to the last cent.
In California, as with the rest of the country, the law that protects the interest of employees’ benefits plan is called ‘ERISA’. ERISA stands for the Employee Retirement Income Security Act of 1974. The law was specifically established to protect employee benefits from the actions of unscrupulous private companies.
The federal ERISA law sets minimum standards for voluntarily established employee benefits in private industry and provides protection for the individual employees covered under these plans.
The attorneys at Pillsbury & Coleman, LLP are well-versed in ERISA and have amassed extensive knowledge getting clients their ERISA benefits.
What Makes Erisa Important?
More than 140 million workers and beneficiaries are covered by one ERISA plan or the other. The ERISA is regulated by these three departments:
- The department of labour – establishes rules for disclosure and reporting. The department also specifies duties for fiduciaries (plan managers);
- The IRS – creates and manages participation fund and vesting rules; and
- The Pension Benefit Guaranty Corp (PBGC) – serves as a guarantor (insurer) of private pension funds.
These departments make sure that your retirement savings are protected from mismanagement and abuse. The ERISA specifically prescribes that the persons in charge of the savings must be held to high standards and must act in the best interest of the beneficiaries.