EMPLOYER-SPONSORED BENEFITS
YOUR COMPANY’S BENEFIT PLANS Have the courts opened the door for piecemeal state regulation? CHARLES MCCLELLAN Partner Foulston Siefkin LLP
JEREMY GRABER Partner Foulston Siefkin LLP
16 july/august 2024
TK Business Magazine
Employer-sponsored retirement and welfare benefits are a critical component of most employers’ compensation packages. They help employers attract and retain talent, and they provide critical benefits to millions of American workers. More than 70% of civilian workers have access to retirement and medical-care benefits through employer-sponsored plans. In 1974, Congress passed the Employee Retirement Income Security Act (ERISA), setting standards for the creation, maintenance and operation of employer-sponsored benefit plans. ERISA includes strong preemption rules, meaning ERISA plans are subject to the nationwide standards established by ERISA, generally free from state-bystate legislation.