Definitions for "EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974"
Keywords:  erisa, guaranty, pbgc, pension, vesting
Federal law regulating private sector pension and retirement plans.
The federal law which established legal guidelines for private pension plan administration and investment practices. see also Pension Benefit Guaranty Corporation, vesting.
Public law 93-406 that regulates pensions and employee benefit plans, including health coverage. ERISA exempts employer and union-sponsored health benefits plans from state regulation. As a result, employers operating ERISA plans must comply with one set of federal rules, rather than with state rules that might be more restrictive with respect to plan design and operation and/or more expansive with respect to plan sponsors' obligations to participants.