ERISA: What managers need to know

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in Leaders & Managers,People Management

The Employee Retirement Income Security Act of 1974 (ERISA) is the major legislation covering employee benefits and affects such policies as health and life insurance, 401(k) plans and retirement pensions.

Managers’ concerns

While most managers don’t deal directly with ERISA, you may be your company’s “communication voice” for benefits.

Warning: Don’t make promises the company isn’t in a position to keep and don’t make exceptions to policies that could come back to haunt you.

Advice: If you can’t answer an employee’s questions on benefits with certainty, send him or her to HR.

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