Benefit Plan
/ˈbɛnɪfɪt plæn/
Definitions
- (n.) A legally binding arrangement by which an employer or other entity provides employees or beneficiaries with specific benefits, such as health insurance, retirement plans, or disability coverage.
The company revised its benefit plan to include mental health services.
Forms
- benefit plan
- benefit plans
Related terms
See also
Commentary
Benefit plans are often governed by specific statutes like ERISA; clarity in drafting eligibility and coverage provisions reduces litigation risk.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.