Remembrance Fund Law and Legal Definition
A remembrance fund is a fund that pays for expenses such as obituary notices, flowers or small gifts in the event of illness, termination, hospitalization, or death for the employee or a member of the employee's family. Remebrance funds are exempt from ERISA reporting requirements.
Sympathy may be extended on the occasion of the death of an employee, or an immediate member of the employee's family, including an employee's spouse, children, parents, brothers, sisters, and parents-in-law, or others as determined by the employer. Upon the occurrence of an event above, an appropriate item of remembrance may be sent, by the Human Resources Department to the residence of the employee or to the hospital incases of prolonged hospitalization.