The decision to retire is one not to be taken lightly, as it will impact your day-to-life potentially more than any decision you have made thus far in your life. In addition, some people need to stop working earlier than planned due to an unexpected disability, and if this happens, you will need proper disability benefits from your employer-sponsored plan.  Contact The Garner Firm, Ltd. to discuss your disability or retirement benefits and gain a better understanding of the process and how it will impact your life. Read on to learn about ERISA and how an attorney can help you in the process. 

What is ERISA?

ERISA is the Employee Retirement Income Security Act of 1974, a federal law that sets the minimum standards for the majority of voluntarily established retirement and insurance plans within private industry. The purpose of ERISA is supposed to be to provide protection for the persons who participate in these plans.  However, ERISA is a complicated law, and it often makes receiving disability or retirement benefits more challenging for employees. If you encounter any issues with your benefits under an ERISA plan, you need a Blue Bell ERISA attorney assisting you and protecting your rights to benefits under the law.

Disability Claims Under ERISA

Every disability policy will have different terms, but these insurance companies all have one thing in common – they will make it difficult for you to qualify for and start receiving benefits. Insurers regularly deny or delay valid disability claims, and you cannot simply appeal the decision like you would any other type of insurance claim. This is because ERISA sets out complicated procedures and strict deadlines to claim appeals. If you have a disability claim and run into challenges, speak with an ERISA attorney about the best course of action right away. 

An Important Function of ERISA: Fiduciary Responsibility

Fiduciary responsibility is the requirement that resources be managed intelligently – in such a way as to reduce the risk of loss while increasing the return on an investment. Stability is an important factor in terms of retirement plans, as they must be around for a while, and a risky financial manager without a sense of fiduciary duty might gamble away retirement plans in a volatile market, as with the Great Recession. ERISA’s requirement of fiduciary duty requires diversification of your investments to minimize risk, and the investment into stable funds with stable returns, to ensure the stability of your future. 

What If My Retirement or Healthcare Benefits Have Been Wrongfully Denied?

Your retirement plan is an investment you have made and an asset you own. If you have experienced difficulty accessing your retirement plan or are not being paid what was agreed, you may have a case, and an ERISA attorney can help. 

Connect with a Blue Bell ERISA Attorney Now

Are you facing a roadblock to your rightful disability or retirement benefits under an ERISA plan? You should discuss your concerns and legal rights with an experienced attorney who can seek the benefits you deserve. Reach out to The Garner Firm, Ltd. to schedule an appointment to discuss your situation today.

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