Law Dictionary

Employee Retirement Income Security Act (ERISA)

Law 29 U.S.C. § 1001 et seq. (1974)
  1. provided for the regulation of private pension plans. The law stipulated capitalization, membership, and operating requirements and altered vestment formulas to include, for example, mandatory employee vestment after a certain period of time. The law also required pension-fund operators to make periodic reports on the conditions and activities of the fund. Oversight of the Act's provisions was assigned to the newly created Pension Benefit Guaranty Corporation. The law also provided for regulation of employee welfare benefit plans, such as group health plans, disability insurance plans, or other plans, funds, or programs benefiting employees. Provisions of the Consolidated Omnibus Budget Reconciliation Act of 1986 (COBRA), codified at 29 U.S.C. § 1161 et seq., provide for continuation of ERISA benefits under such a plan to eligible employees upon termination of employment.


Seen and Heard

What made you want to look up Employee Retirement Income Security Act (ERISA)? Please tell us where you read or heard it (including the quote, if possible).

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!