James Lukezic is an experienced fiduciary advisor who has worked with a wide variety of clients. He is a Director of Investments with Oppenheimer & Company, Inc. He provides corporate retirement planning services and focuses on fiduciary governance. The Employee Retirement Income Security Act (ERISA) is an important topic for fiduciary advisors. It plays an important role in pensions and health plans in the private industry.
There are many benefits involved with this act. The Employee Retirement Income Security Act was passed in 1974 and provides an important layer of benefit protection for professionals in the private industry. One major benefit of this act is that it requires plans to provide participants with important information. This act legally prevents retirement plan providers from omitting or withholding information such as plan features and funding.
Another major benefit of ERISA is that it requires plans to establish a grievance and appeals process. If participants have an issue with their plan or their plan provider, they can go through this process to get the issue resolved. An example would be a plan withholding benefits. This act helps individuals file a grievance with their plan, and appeal the decision to withhold their benefits.
ERISA covers employees in the private sector within the United States. It is important to remember that this act does not cover plans that churches provide their employees, or plans that are provided by government entities. James Lukezic worked hard to hone his skills and develop a strong knowledge of retirement planning.
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