Compliance & legal
ERISA (Employee Retirement Income Security Act of 1974)
The federal law governing most private-sector employee benefit plans, including health insurance. Sets minimum standards for plan documents, fiduciary conduct, claims procedures, and disclosure to participants. Most employer-sponsored health plans must comply with ERISA, with limited exceptions for governmental and church plans.Last reviewed: · TMRW Benefits is a benefits brokerage, not a tax or legal advisor. Consult a CPA or attorney for situation-specific guidance.
Related terms
Form 5500
Annual ERISA report for plans with 100+ participants.
Read definitionSPD (Summary Plan Description)
Plain-language plan explanation for participants.
Read definitionPlan Document
Legal document establishing an ERISA plan.
Read definitionFiduciary
Person with legal duty to act in plan participants' interest.
Read definitionMore in Compliance & legal
COBRA (Consolidated Omnibus Budget Reconciliation Act)
Continue group coverage up to 18-36 months after losing eligibility.
ACA (Affordable Care Act)
2010 federal law restructuring U.S. health insurance markets.
HIPAA (Health Insurance Portability and Accountability Act of 1996)
Federal law protecting health information privacy.
Section 125 (Cafeteria plan)
IRS code allowing pre-tax benefits payments.
Premium-only plan (POP)
Simplest Section 125 plan. Pre-tax premiums only.
MEC (Minimum Essential Coverage)
Coverage level satisfying ACA mandate requirements.
Have a benefits question?
Ask a benefits advisor.
Jesse reads every contact submission personally. If your question is straightforward, you'll get a written reply. If it needs a call, we'll set one up.