Employee Retirement Income Security Act (ERISA)

Scheduled Maintenance

The U.S. Department of Labor (DOL) is conducting scheduled system maintenance starting Friday, February 15 at 5:00 p.m. ET through Tuesday, February 19 at 8:00 a.m. ET. Most DOL websites and web systems will be affected and unavailable to the public. The National Contact Center remains open 24 hours a day to contact Job Corps (1-800-733-5627), MSHA (1-800-746-1553), and OSHA (1-800-321-6742).

The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry to provide protection for individuals in these plans.

ERISA requires plans to provide participants with plan information including important information 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 grievance 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 a federally chartered corporation, known as the Pension Benefit Guaranty Corporation (PBGC).

In general, ERISA does not cover plans established or maintained by governmental entities, churches for their employees, or plans which are maintained solely to comply with applicable workers compensation, unemployment or disability laws. ERISA also does not cover plans maintained outside the United States primarily for the benefit of nonresident aliens or unfunded excess benefit plans.

Web Pages on This Topic

Compliance Assistance - Provides publications and other materials to assist employers and employee benefit plan practitioners in understanding and complying with the requirements of ERISA as it applies to the administration of employee pension and welfare benefit plans.

Consumer Information on Retirement Plans - Provides fact sheets, booklets, and other retirement plan information from the Department's Employee Benefits Security Administration (EBSA).