Running Head: BENEFITS 1
BENEFITS 2
ERISA and EEOC
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There are various differences as well as similarities that are considered to be in existence in between the EEOC and the ERISA benefits. They include:
ERISA is an organization that is mainly referred to as the Employee Retirement Income Security Act of the year 1974. It was actually passed by the Federal Court of the United States with an objective of standardizing in addition to establishing the criteria, the eligibility as well as the required minimum standards that are considered to be more appropriate for the pans that are related to the pension of the employees who are employed in the private sector. Additionally, it is also known for being made up of rules in addition to regulations that are associated with the plan meant for the employees benefits (Doerr, 2021).
ERISA has its own associated benefits both to the employees as well as the institution which involves; in given circumstances whereby the said plan is actually based on profit, the plan basically acts as a motivating factor as well as pushing force to the workers in order to achieve performances that are considered to be positive and fruitful in an organization. This results into enhanced productivity in the company. Additionally, ERISA advantages are also essential as they act as a retention factor into an institution. This is because the plan helps the organization greatly in retaining the workers considered to be having talents that are recommendable in the institution.
The retention is essential within the organizations’ growth development since it ensures it gets to tap the best talents which is significant in propelling the company forward in being able to have an advantage that is competitive against the competitors. Another benefit is that in a situation whereby the firm does not have sufficient capital, it does not face difficulties when it has to settle the employees since the plan literally eases the process for the institution in relation to the compensation issues for the workers. The reason is that, compensation can be balanced through the assistance acquired from ERISA plans (Goldman and Corrada, 2018).
The disadvantages that are associated with the ERISA plan include; in order to have these type of a plan successfully implemented within any institution alongside making sure it gets to perform its functions as intended within the most suitable manner, this whole process is one that is considered to consume lots of time which becomes a challenge for most institutions. An additional disadvantage is found in getting to ensure the accuracy of the administration is maintained for a plan that is similar which is a lot of work on the major business of the company.
On the other hand, EEOC stands for United States Equal Employment Opportunity Commission. It has an core objective of ensuring it safeguards the specific interests of every individual who are searching for employment opportunities through making sure it prevents any type of job discrimination in any available work place. It prevents any discrimination that might be as a result of color, caste, sex, nationality, religion, as well as disability in addition to others that are considered to be illegal. It also comes alongside punitive damages that are involved. Each employee considered to be having at least 15 workers in a company is actually covered in accordance with the law as well as the regulations that are provided by the EEOC plan (Gardner, 2021).
The EEOC of the United States is the one that is known to be accountable for putting in place the guidelines that are meant to be utilized especially amidst the processes of employment tests and the selection procedures which tend to be used mainly during the promotion as well as hiring processes in a workplace. Another integral section within the given guidelines happens to be a medical tests form. Any employer is considered to be in the capacity , in accordance with the law to make any given conclusions that are in relation to hiring based on the results of a person’s medical report. This is so long as the test being done is an overall one and is to be used mainly for the profile purpose in addition to it being used on each available applicant.
The EEOC plan is known to have its own advantages and disadvantages which are encountered by the employees and the institution as well. The advantages are: this is a beneficial plan some it ensures there is no discrimination that is practiced within any organizations’ workplace. It has also minimized to a great extent the discrimination practice because of the involved penalties. Another advantage is it provides opportunities that are equal and fair to every single employee within a work place. The associated disadvantage is that; with this plan in place, an employee has the capability of using it in form of a weapon against an employer and also framing them in a false way on discrimination charges (Schaaff, 2018).
The two plans are considered to have a role that is of great significance as they ensure institutions function swiftly as they adhere to the regulations and rules that are enforced. These make the employers and employees to remain active and have complete knowledge in relation to what is needed from them.
References
Doerr, R. A. (2021). The Sixth Circuit Adds a Piece to the Puzzle of Pre-Dispute Employment Agreements. Ohio St. LJ Sixth Cir. Rev., 82, 1.
Goldman, A. L., & Corrada, R. L. (2018). Labour Law in the USA. Kluwer Law International BV.
Gardner, P. J. (2021). The Law: The Influence of the President in the Adoption and Enforcement of Private Rights of Action. Presidential Studies Quarterly, 51(1), 187-213.
Schaaff, B. (2018). Using Federal Nondiscrimiantion Laws to Avoid ERISA: Securing Protection from Transgender Discrimination in Employee Health Benefit Plans. Duke J. Gender L. & Pol’y, 26, 45.