ERISA is the law that governs benefit plans for employees. These usually mean retirement plans like 401(k)s and related plans that offer monetary rewards to employees other than wages.
ERISA is a huge, complicated law with almost fifty years of caselaw under its belt, and yet for reasons totally beyond me, many business owners just take it for granted that nothing under ERISA can bother them as long as they don’t have (or at least, think they don’t have) any retirement plans, or run it all through an outside company. Not so. Read on, and be chilled by just how easy it is to become subject to ERISA’s onerous disclosure requirements and other expensive compliance rules:
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