If you employer offered you a disability policy, you may be covered by the Employer Retirement Income Security Act (ERISA). ERISA governs both pension benefit plans and long term disability benefits. ERISA long term disability plans are amended for one reason or another. Amendments can be classified into two categories, substantive and procedural.
Substantive and Procedural Plan Amendments
If a benefit is changing or ending, this would be considered to be a substantive. However, if only appeal procedures such as deadlines for submitting an appeal or for decision-makers to make the final decision on a claim, that’s probably a procedural amendment.
The general rule is that procedural amendments are generally not retroactive. However, substantive amendments will affect you if you’ve vested in your benefits.
How Plan Amendments Must Be Made
Plan sponsors have to follow the ERISA statute to make sure that the amendment has been made properly. The reality is the plan amendments can be made into effect whether it is good or bad.
Learn more about your policy
You can learn more about your disability policy by ordering a free, no obligation copy of our ERISA disability book , Robbed of Your Peace of Mind, today by visiting this link: http://www.caveylaw.com/get-disability-book/ to understand more about ERISA disability and your options.