What does ERISA do?
What does ERISA do? ERISA, an Employee Retirement Security Act enacted in 1974, requires employers to provide participants with information about the plan, plan funding and important features. This information is to be provided regularly and automatically. Information can be available free of charge or it can cost money. ERISA also sets the standards for employers for benefit accrual and funding rules. It is defined by the law as when an employee becomes eligible to participate in a plan, accumulate benefits, and have a right for those benefits. The funding of plans is also controlled by...Continue reading