Glossary

Section 510 of the Employee Retirement Income Security Act (ERISA) prevents employers from taking actions that might abridge or impair an employee from collecting benefits.

Employee Retirement Income Security Act stock drop litigation is a lawsuit brought against corporate directors and officers and trustees of corporate 401(k) plans after the company's stock drops sharply resulting in 401(k) losses.

Employee Retirement Income Security Act "tag-along" claims involve plaintiffs who assert that, in addition to pension plan fiduciaries, corporate directors and officers are also liable for pension plan defaults and payment shortfalls and therefore must also "tag along" as named defendants in such lawsuits.

Employee stock ownership plans (ESOPs) are a type of defined contribution benefit plan in which most or all of the assets are invested in the employer's stock.

An employee stock purchase plan allows employees to buy company stock through payroll deductions, usually at a discounted price.

Employee welfare benefit plans are plans, funds, or programs created by an employer or a union to provide medical, sickness, accident, disability, death, unemployment, and vacation benefits; apprenticeship and training programs; day care centers; scholarship funds; prepaid legal services; or any benefit allowed by the Taft-Hartley Act.

Employers excess indemnity insurance is insurance coverage purchased by employers that do not subscribe to the Texas workers compensation law.

Employers liability (EL) coverage is provided by part 2 of the workers compensation policy. It provides coverage to the insured (employer) for liability to employees for work-related bodily injury or disease, other than liability imposed on the insured by a workers compensation law.

Employer responsibility coverage is needed if the insured employs workers outside the United States or maintains a physical location in another country, also referred to as a foreign voluntary workers compensation (FVWC) policy.

Employment-at-will doctrine holds that absent a contract, both employers and employees are free to terminate the employment relationship at any time, with or without cause or notice.