ERISA

The Employee Retirement Income Security Act of 1974 (ERISA) is a U.S. federal tax and labor law that establishes minimum standards for pension plans in private industry. It contains rules on the federal 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 financial and other information concerning the plan to beneficiaries; Establishing standards of conduct for plan fiduciaries; Providing for appropriate remedies and access to the federal courts.