Employee Benefit Plan Law and Legal Definition

An "employee benefit plan" is defined as an employee welfare benefit plan or an employee pension benefit plan. A plan is a welfare benefit plan if it "was established or is maintained for the purpose of providing for its participants or their beneficiaries, through the purchase of insurance or otherwise benefits in the event of sickness, accident, disability, death or unemployment." Cosby v. Lowe's Cos., 2009 U.S. Dist. LEXIS 111199, 12-13 (W.D.N.C. Nov. 2, 2009)