4 ERISA Requirements of Group Life Insurance

4 ERISA Requirements of Group Life Insurance

The Employee Retirement Income Security Act (ERISA) requires that any employee benefit plan (including group life insurance) meet certain requirements. Among these requirements are: The plan must be established and maintained in writing The plan documents must provide for one or more named fiduciaries who administer the plan  The plan document must provide a procedure for amending the plan and specify the basis on which payments are to be made to and from the plan…

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