What Does ERISA Stand For?

ERISA stands for Employee Retirement Income Security Act Of 1974

ERISA, the Employee Retirement Income Security Act of 1974, is a federal law that sets standards for pension and health plans in the private industry. It aims to protect the interests of employee benefit plan participants and beneficiaries by establishing rules for the management of plan funds, ensuring transparency, and promoting accountability. ERISA also outlines reporting and disclosure requirements for plan sponsors, providing employees with critical information about their benefits.