ERISA

Definition

Employee Retirement Income Security Act of 1974. The federal law which established legal guidelines for private pension plan administration and investment practices.

Use ERISA in a sentence

All companies must now offer some sort of retirement planning due ERISA. Otherwise there would be too many retirees that would be broke.

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When our company was sued over our company pension and health care plans, we brought in a lawyer who was an expert on the ERISA law to advise us.

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In order to abide by federal law, the lawn care company had to follow all established guidelines described in ERISA when starting its investment of pension funds.

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