Employee Retirement Income Security Act of 1974
E34499
The Employee Retirement Income Security Act of 1974 is a U.S. federal law that sets minimum standards and protections for private-sector employee benefit plans, including pensions and health plans.
Aliases (3)
Statements (50)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
→
labor law → pension law → |
| administeredBy |
Employee Benefits Security Administration
→
Internal Revenue Service → Pension Benefit Guaranty Corporation → U.S. Department of Labor → |
| alsoCodifiedIn |
Internal Revenue Code
→
|
| amendedBy |
Affordable Care Act
→
Consolidated Omnibus Budget Reconciliation Act of 1985 → Health Insurance Portability and Accountability Act of 1996 → Pension Protection Act of 2006 → |
| appliesTo |
private-sector employee benefit plans
→
private-sector health benefit plans → private-sector pension plans → |
| codifiedIn |
Title 29 of the United States Code
→
|
| country |
United States
→
|
| creates |
civil enforcement mechanisms for plan participants
→
preemption of many state laws relating to employee benefit plans → |
| dateSigned |
1974-09-02
→
|
| doesNotApplyTo |
church plans (with certain exceptions)
→
governmental plans → |
| enactedBy |
93rd United States Congress
→
|
| establishes |
fiduciary responsibilities for plan managers
→
rules on prohibited transactions between plans and related parties → standards of prudence for plan fiduciaries → |
| historicalContext |
enacted in response to concerns about private pension plan failures such as the Studebaker plant closure
→
|
| primaryUSCodeSection |
29 U.S.C. § 1001 et seq.
→
|
| provides |
for federal court jurisdiction over many benefit disputes
→
participants the right to sue for benefits and breaches of fiduciary duty → |
| publicLawNumber |
Public Law 93-406
→
|
| purpose |
to protect individuals in private-sector pension and health plans
→
to set minimum standards for most voluntarily established private-sector employee benefit plans → |
| relatedTo |
COBRA continuation coverage requirements
→
Pension Benefit Guaranty Corporation → federal regulation of 401(k) plans → |
| requires |
disclosure of plan information to participants
→
minimum funding standards for pension plans → minimum standards for participation in plans → minimum vesting standards → reporting of plan information to the federal government → |
| section |
Section 404 (fiduciary duties)
→
Section 406 (prohibited transactions) → Section 502 (civil enforcement) → Section 514 (preemption) → |
| shortName |
ERISA
→
|
| signedBy |
Gerald Ford
→
|
| signingPresident |
Gerald Ford
→
|
| statutesAtLargeCitation |
88 Stat. 829
→
|
| yearEnacted |
1974
→
|
Referenced by (15)
| Subject (surface form when different) | Predicate |
|---|---|
|
Multiple Employer Welfare Arrangement provisions of ERISA
→
Pension Benefit Guaranty Corporation → Pension and Welfare Benefits Administration → |
legalBasis |
|
EBSA
("ERISA")
→
Pension and Welfare Benefits Administration → |
enforces |
|
EBSA
→
Employee Benefits Security Administration → |
legalAuthority |
|
Consolidated Omnibus Budget Reconciliation Act of 1985
→
Multiple Employer Welfare Arrangement provisions of ERISA ("ERISA Title I") → |
relatedTo |
|
Pension Protection Act of 2006
→
|
amends |
|
Consolidated Omnibus Budget Reconciliation Act of 1985
→
|
codifiedIn |
|
Pension Benefit Guaranty Corporation
→
|
foundedBy |
|
ERISA
→
|
fullName |
|
United States labor law
("Employee Retirement Income Security Act")
→
|
hasKeyFederalStatute |
|
ERISA
→
|
title |