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ERISA – Employee Retirement Income Security Act

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The Employee Retirement Income Security Act (ERISA) lays out federal law demands for employer retirement plan policies. It specifies what employers must do to create, administer, and maintain employee benefit retirement programs to stay on the right side of the law, including avoiding inadvertent promises that may restrict employer rights and preventing informal practices from becoming ERISA-covered policies.


ERISA was created to ensure that employee benefits plans were created fairly, administered and maintained appropriately, and provided to retiring employees as promised by their employer.


ERISA covers two types of benefits plans.

  1. Employee pension benefits plans

    1. Defined benefits plans provide a specific benefit when the employee retires or in a certain period of time after retirement.

    2. Defined contribution plans provide an individual account for the employee based upon the amount contributed to the...(register to read more)

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