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.