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What Is ERISA?

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What is ERISA? ERISA stands for The Employee Retirement Income Security Act of 1974. ERISA is a federal law that applies to many private employers, but not to all of them. The way to understand ERISA is that it establishes minimum standards for retirement plans such as pensions and health. It may also include other welfare benefit plans such as life insurance, disability, etc. to protect employees, but also to protect employers. The protective laws under ERISA apply only to private employers only that will offer sponsored health insurance coverage and some other benefit plans to their employees. ERISA doesn't require employers to offer any plans or health insurance or retirement; ERISA only sets some rules for certain types of benefits
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