ERISA AND TAX INFORMATION FOR PARTICIPANTS, PLAN SPONSORS AND PROFESSIONALS


 



 

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Welcome to ERISA.com               



 

Click here for books about ERISA  

 

 

ERISA is a federal law that regulates all kinds of employee benefits plans in the private sector.  This includes pension plans, profit sharing plans, 401(k) plans and so-called "welfare" plans such as group health benefit plans, long and short term disability plans and other non-pension arrangements. A division of the United States Department of Labor called the Employee Benefits Security Administration ("EBSA") maintains a web site to help consumers and employee benefit plan participants with questions or to report problems. You can contact the EBSA by clicking on the link below and following the instructions on the site.

 

 

Click here to Request for Assistance from The Department of Labor, EBSA

 

 

 


Arbitration of Employee Benefit Disputes

Including Withdrawal Liability

 


 

 

THANKS TO OUR ACTIVE DUTY MILITARY AND OUR VETERANS!

 

People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

 George Orwell (English Novelist and Essayist, 1903-1950)

 

"It is the soldier, not the reporter who has given us the freedom of the press. It is the soldier, not the poet, who has given us the freedom of speech. It is the soldier, not the campus organizer, who gives us the freedom to demonstrate. It is the soldier who salutes the flag, who serves beneath the flag, and whose coffin is draped by the flag, who allows the protester to burn the flag." -- Father Dennis Edward O'Brien, USMC (Ret) 

 


 

 

If you are considering a "ROBS" retirement plan you should consult with

 

 


 

 

 

Participant Claims Consultation Only $29.95

 

Contact Information-Your Phone
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WHEN YOU PURCHASE THIS SERVICE A CONSULTANT WILL CONTACT YOU FOR YOUR THIRTY MINUTE CONSULTATION WITHIN TWO BUSINESS DAYS.  PLEASE BE SURE TO INCLUDE A PHONE NUMBER AND DESIRED TIME FRAME

 If you are a participant in an employer sponsored employee benefit plan and you have been denied a benefit, you have your work cut out for you.   While your claim is governed by ERISA (a federal law which overrides state law in most circumstances), the ERISA law itself, and court decisions interpreting and applying the law, have heavily stacked the deck against participant claimants and in favor of the providers of benefits – primarily insurance companies. Small claims are especially troublesome since health insurance carriers and disability insurance providers know that the barriers to successful pursuit of a claim under ERISA are set very high.  More importantly, the insurance companies know that, under ERISA, even if they lose a claim, they will only have to pay the benefit itself – something they should have paid in the first place. 


 

So, where does all this bad news leave you if you think you are entitled to a benefit and you have been denied payment?  What are your options?

  • Shrug your shoulders and forget about your claim

  • Conduct a frustrating search on the internet for an ERISA lawyer

  • Conduct a frustrating search in the Yellow Pages for an ERISA lawyer

  • Make a disappointing call to the Government

  • Handle the appeal of the denial myself without any coaching or guidance

     

MAKE A TELEPHONE APPOINTMENT WITH ERISA.COM TO DISCUSS YOUR CLAIM FOR UP TO THIRTY MINUTES WITH AN ERISA CLAIMS CONSULTANT WHO WILL:

  •  Review the basics of your claim -Disability?  Health care?  Retirement Benefit?

  •  Find out where you are in the application/denial/appeal process

  • Give you a realistic assessment of the practical issues relating to your claim

  • Help you decide if Is it likely that a lawyer will take your case on a contingent (“pay only if we win”) basis?

  • How much should I expect to pay for a lawyer to "review" my case - and is it worth it?
  • Help you decide if you should I take a "Do-it-Yourself" approach?
  • Follow up with a confidential summary email reviewing the consultation and summarizing the recommendations

All for $29.95, payable by credit card

 

Contact Information-Your Phone
Best Time



 


20% Discount for Veterans

 

"It is the soldier, not the reporter who has given us the freedom of the press. It is the soldier, not the poet, who has given us the freedom of speech. It is the soldier, not the campus organizer, who gives us the freedom to demonstrate. It is the soldier who salutes the flag, who serves beneath the flag, and whose coffin is draped by the flag, who allows the protester to burn the flag." -- Father Dennis Edward O'Brien, USMC (Ret) 

 

WE INSTALL, "REPAIR" AND HANDLE IRS OR DOL AUDITS OF

ROBS

 
DO NOT DO BUSINESS WITH THE "NOTORIOUS NINE"

 


You are better off with:

The Staples Law Firm
OR
Michael D. Hughes, ERISA Attorney


 

Over the past ten years or so many entrepreneurs have used a funding vehicle to start their new businesses which involved a rollover from an IRA or existing qualified plan and then an investment in the new business by a new profit sharing plan or 401(k) plan.  In 2008, the Internal Revenue Service, in a public announcement,  gave the names "ROBS" to these programs

 

Most of these plans have been installed at the urging of several large organizations that heavily promote their use and charge substantial up front fees to implement the programs. These promoters are nothing more than marketing organizations and are not qualified to render the type of professional services necessary for the installation of such a retirement plan.

 

 In some cases, these plans have also been installed and operated by qualified attorneys and accountants after careful professional consideration of the costs, risks and strict operational requirements to use this perfectly legitimate investment tool for retirement plan savings.

 

 

"I would really recommend finding a professional that has experience utilizing this funding option, but I had never heard of this type of strategy so I was immediately drawn to it." From My Journey to Millions

 

 

Since at least October of 2008, the Internal Revenue Service has engaged in an intense compliance and audit of ROBS they have become aware of through various means, including "data mining" from annual reports filed for these plans and from information gathered about the large promoters of these programs.  According to our resources, the IRS scrutiny is especially intense in cases where the new businesses have failed and the invested funds have been lost.

 

IRS Warns Business Funding Solution ROBS Retirement Plans

 

"This industry is littered with plan sponsors who have run into qualification blunders because some promoter was more interested in pushing product than protecting the client. So any client interested in a ROBS plan should consult with a reputable third party administration firm and an ERISA attorney. As you well know, if it’s too good to be true, it often is."

 

Frankly, in many cases that the IRS has "won" in challenging these plans its successful challenge was the inevitable outcome. In most of these cases the plan's economic, legal and operational foundation was flawed from the outset and the only likely "winner" was the organization that promoted and sold the program.

 

To be sure, there have been many, many success stories with ROBS and many entrepreneurs have realized their dreams of operating a successful small business AND enhancing their retirement security.

 

AT ERISA.com and at several of our partner Third Party Administrator firms and law and accounting firms we can help if you have a problem with your ROB or if you wish to consider this approach to help start and build a small business.

 

Professional guidance remains essential to determine when it is appropriate and advisable to employ the strategy and how to do so in a manner most likely to withstand IRS scrutiny and avoid unintended tax consequences.

 

If you would like to speak to us about your situation please contact us for a no charge consultation

 

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FOR CONFLICT-FREE INDEPENDENT PROFESSIONAL ADVICE CALL:

 


or


727-388-9112 or email to planwiz@erisa.com

 

 


 

 

Am I a Good Candidate For a New Retirement Plan?

 

 

 

 


 

 

 

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