Financial Dictionary

Financial Dictionary - definitons of investment, economic and financial terms

Atlantic Financial


Atlantic Financial


Investment Word

ERISA

Add to GoogleAtlantic Financial Investment Word RSS Feed

The term ERISA refers to the Employee Retirement Income Security Act of 1974.

ERISA is a Federal law that sets standards of protection for individuals in most voluntarily established, private-sector retirement plans. ERISA requires plans to provide participants with plan information, including important facts about plan features and funding; sets minimum standards for participation, vesting, benefit accrual, and funding; provides fiduciary responsibilities for those who manage and control plan assets; requires plans to establish a claims and appeals process for participants to get benefits from their plans; gives participants the right to sue for benefits and breaches of fiduciary duty; and, if a defined benefit plan is terminated, guarantees payment of certain benefits through the PBGC.

erisa - definition

Back to the top of the page for ERISA