Employee Retirement Income Security Act
ERISA or the Employee Retirement Income Security Act (ERISA) of 1974 protects employees from retirement fund mismanagement and abuse. ERISA also covers non-retirement accounts, which include group health plans for employee benefits such as medical, dental, vision, life/AD&D, short-term and long-term disability, flexible spending accounts, and health reimbursement arrangements. Any employer that offers a retirement plan or group-sponsored healthcare plan must follow ERISA requirements unless an exemption applies.
How Paycor Helps
With notifications, alerts, and reminders, our software eliminates manual recordkeeping and duplicate entry. Paycor Benefits Advisor drives efficiencies by offering customized reporting for your benefits compliance needs.