Скачать или смотреть The Employee Retirement Income Security Act of 1974

The Employee Retirement Income Security Act (ERISA) of 1974 regulates private-sector discretionary benefits such as health, life, disability insurance, and retirement plans. ERISA was created to fix flaws in the private pension system, such as unfair participation requirements that disadvantaged older workers. The law established minimum standards for employer-sponsored pension plans to protect retirement security.

ERISA preempts most state laws related to employee benefits and is a complex federal law enforced by the U.S. Department of Labor. It does not apply to government plans, church plans, workers' compensation, foreign-based plans, top hat plans, or plans covering only partners/sole proprietors. Key objectives include: ensuring workers receive benefit information, setting standards for plan management, requiring adequate funding, and protecting pensions after eligibility or plan termination.

ERISA covers both pension plans (e.g., 401(k), pensions) and welfare plans (e.g., health insurance). Defined benefit plans promise a specific retirement payout based on salary and years worked; employer contributions vary yearly to meet future obligations. Defined contribution plans involve employer and/or employee contributions into individual accounts, with retirement income depending on investment performance. Multiemployer plans cover workers who move between employers in the same industry (e.g., construction, trucking) and allow continued retirement benefit accumulation.