What is ERISA?

HR Daily Advisor

ERISA stands for the Employee Retirement Income Security Act of 1974. In short, this is the federal law that creates standards for retirement, health, and pension plans. The Act advises when employees must be allowed to join the plan.

It’s Time to Analyze Benefits Management

Aberdeen HCM Essentials

Benefits management is no longer a stodgy extension of compensation management. As employers toil away to determine how employees are compensated for their work, benefits have become their own industry in need of their own management strategy. Employers and benefits administrators are contending with a massive loss of power in their negotiations between healthcare providers, insurers, and pharmaceutical companies. The picture painted here is bleak, I won’t lie.

Responsibilities of the DOL

HR Daily Advisor

Established in 1913, the Department of Labor (DOL) has legal responsibility over matters related to employment. In practical terms, this means the DOL is responsible to enforce around 180 laws that relate to working conditions and terms of employment in the United States.