Retirement Plans

Employee Retirement Income Security Act of 1974 (ERISA)

The following information is reproduced from the Unites States Department of Labor's website located at

The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for retirement and health benefit plans in private industry. ERISA does not require any employer to establish a plan. It only requires that those who establish plans must meet certain minimum standards.

ERISA covers retirement, health and other welfare benefit plans (e.g., life, disability and apprenticeship plans). Among other things, ERISA provides that those individuals who manage plans (and other fiduciaries) must meet certain standards of conduct. The law also contains detailed provisions for reporting to the government and disclosure to participants. There also are provisions aimed at assuring that plan funds are protected and that participants who qualify receive their benefits.

ERISA has also been expanded to include new health laws. The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) amended ERISA to provide for the continuation of health care coverage for employees and their beneficiaries (for a limited period of time) if certain events would otherwise result in a reduction in benefits. The Health Insurance Portability and Accountability Act of 1996 (HIPAA) amended ERISA to make health care coverage more portable and secure for employees.

For additional information contact the U.S. Department of Labor at 866-487-9243.


Advisory Bulletin: Employee Retirement Income Security Act of 1974 (ERISA), 35(II)


U.S. Department of Labor - Retirement Plans, Benefits & Savings
U.S. Department of Labor Compliance Assistance
U.S. Department of Labor - Health Plans & Benefits