Employee Retirement Income Security Act of 1974 (ERISA)
The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that provides protection for individuals in pension and health plans in private industry.
ERISA requires plans to provide participants with plan information including:
- Details of plan features and funding;
- Fiduciary responsibilities for those who manage and control plan assets;
- Details of the grievance and appeals process for participants to get benefits from their plans; and
- The right participants have to sue for benefits and breaches of fiduciary duty.