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ERISA

Author: Webmaster / August 12, 2016 / Categories:

Also known as The Employee Retirement Income Security Act of 1974. This is a federal legal statute that establishes minimum standards for pension plans in private industry and provides for extensive rules on thefederal income tax effects of transactions associated with employee benefit plans.

ERISA was enacted to protect the interests of employee benefit plan participants and their beneficiaries by requiring the disclosure of them to financial and other information concerning the plan; by establishing standards of conduct for plan fiduciaries; and by providing for appropriate remedies and access to the federal courts.

ERISA is sometimes used to refer to the full body of laws regulating employee benefit plans, which are found mainly in the Internal Revenue Code and ERISA itself.

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