What is ERISA?
ERISA stands for the Employee Retirement Income Security Act of 1974, codified in the U.S. Code in Title 29 Chapter 18.
The purpose of ERISA is to set minimum standards for pension plans established by private employers.
ERISA does not impose any requirement on employers to create a pension plan. Instead, it regulates employers who voluntarily choose to establish a plan for employees.
Not all employers and not all pension plans are covered, but those that are must comply with the law.