Employment Law
| Disability Insurance |
|
| Disability insurance is designed to provide income to a covered employee in the event that the employee is unable to work because of illness or injury. Some states sponsor disability insurance programs; however, state programs typically provide benefits that represent only a fraction of a worker's salary. In addition, the period during which disability benefits can be received is limited, after which a disabled employee will have to rely on an employer-sponsored disability program or an individual disability insurance policy. More... |
|
|
| Independent Contractor or Employee? |
|
| There are many important distinctions between the way that hiring parties must treat employees and independent contractors. For example, hiring parties must withhold payroll taxes for their employees, but not for independent contractors. Independent contractors are also not entitled to be covered by employer benefit plans. Although the differences in required treatment are great, the distinction between an employee and an independent contractor is not often so easily drawn. Thus, a hiring party that incorrectly classifies its workers can incur great legal liability. More... |
|
|
| The Pension Benefit Guaranty Corporation |
|
| The Employee Retirement Income Security Act of 1974 (ERISA) was passed in order to protect the retirement assets of employees that were accrued through employer-sponsored pension plans. In defined contribution plans, retirement assets are invested and will increase or decrease as the investments increase or decrease. With defined benefit plans, the retirement plan sponsor promises to pay a certain amount to a plan participant upon retirement, whether a stated dollar figure or an amount that is calculated from the participant's salary and time of service to the employer. More... |
|
|
| The Women's Health and Cancer Rights Act |
|
| The Employee Retirement Income Security Act of 1974 (ERISA) was passed to regulate employee benefit plans, including employer-sponsored group health plans. In 1998, an amendment to ERISA was passed called the Women's Health and Cancer Rights Act (WHCRA), which applies to individual health plans as well as to employer-sponsored group health plans. The WHCRA establishes rights for women who are covered under health plans that cover mastectomies. It is important to note that the WHCRA does not require health plans to provide coverage for mastectomy; rather, it imposes requirements on plans that do offer such coverage. More... |
|
|
| Unemployment Insurance -- Financing -- Managing Debt |
|
| Despite complex tax schedules and funding strategies, there are times when a state's unemployment insurance fund will be insufficient to cover its costs. Typically, this happens during a prolonged recession, when claims for benefits are high and contributions to the fund diminish. Although most states rely on some type of solvency provision to prevent this from occurring, such measures are not always enough. More... |
|
|