Employee Benefit Plan
/ˌɛmˌplɔɪi ˈbɛnɪfɪt plæn/
Definitions
- (n.) A legal arrangement, typically under ERISA, where an employer provides benefits such as health insurance, pensions, or disability to its employees.
The company sponsored an employee benefit plan to provide its workers with health coverage and retirement benefits.
Forms
- employee benefit plan
- employee benefit plans
Related terms
See also
Commentary
Employee benefit plans are often governed by the Employee Retirement Income Security Act (ERISA), requiring careful drafting to ensure compliance with federal regulations.
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.