Employee Retirement Income Security Act of 1974
/ˌɛmˌplɔɪiː ˈrɛtərmənt ˈɪnkʌm sɪˈkjʊərəti ækt ʌv 1974/
Definitions
- (n.) A U.S. federal law enacted in 1974 that establishes minimum standards for most voluntarily established pension and health plans in private industry to provide protection for individuals in these plans.
The Employee Retirement Income Security Act of 1974 regulates the administration and funding of private retirement plans.
Forms
- employee retirement income security act of 1974
Related terms
See also
Commentary
ERISA is fundamental in regulating private sector employee benefit plans, balancing employer responsibilities and participant protections.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.