ERISA / Self-Funded Benefit Plans

Helping Michigan Companies Achieve Their Objectives With Self-Funded Benefit Plans (ERISA)

The Employee Retirement Income Security Act of 1974 (ERISA) was passed to supersede widely varying state laws governing employee health insurance and retirement plans. It created one unified, although complicated, set of rules and regulations.

ERISA covers most health insurance plans and retirement benefits — pension plans, profit-sharing plans, and 401(k) plans — offered by employers to employees.

The ERISA attorneys at the law offices of Kaufman, Payton & Chapa advise business clients as they set up and administer company health insurance and retirement plans, in order to ensure those plans are in compliance with ERISA requirements.

From legal advice regarding ERISA requirements to developing plan descriptions and drafting plan documents, our business lawyers have extensive experience with these matters. Our goal is to help your company achieve its objectives while minimizing the risk of liability. Contact us to schedule a consultation at one of our three Michigan offices in Farmington Hills, Detroit, and Grand Rapids.

Business owners and managers who administer benefits or retirement plans, or who control plan assets, have obligations and responsibilities defined by the ERISA statute. These obligations are to:

  • Perform as a fiduciary, acting solely in the interest of the plan participants and beneficiaries (not the company or management)
  • Act as a prudent person would when investigating, evaluating, and making investment decisions
  • Diversify the investments of the plan so as to minimize the risk of loss

If your company needs legal advice to properly fulfill these fiduciary duties, we can help.

Representative ERISA Clients: Financial Designs, Inc., United States Indemnity and Casualty Company Limited, CompOne Administrators, Inc., SecureOne Benefit Administrators, Inc.

We invite you to contact one of our three Michigan law offices in Farmington Hills, Detroit, and Grand Rapids to schedule a consultation with a lawyer. Please call us at (248) 626-5000.