Who Is Covered By The Employee Retirement Income Security Act (ERISA) ?
Any employee benefit plan established or maintained by any employer, employee organization or organization representing employees engaged in commerce or in any industry or activity affecting commerce is covered by the Employee Retirement Income Security Act (ERISA). ERISA does not apply to government plans or taxexempt church plans as defined by the Act. Also exempt are plans maintained solely for the purpose of complying with workers compensation, unemployment or disability insurance laws or those maintained outside of the U.S. primarily for the benefit of persons substantially all of whom are nonresident aliens. If a plan is an excess benefit, providing benefits or contributions in excess of those allowable for tax qualified plans, it is exempt from ERISA.
Other Employee Retirement Income Security Act (ERISA) FAQs
-
Q:
What Is The Employee Retirement Income Security Act (ERISA)?
A: The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for most voluntarily established pension and health plans in … More -
Q:
What Does The Employee Retirement Income Security Act (ERISA) Govern?
A: ERISA was passed to protect the interest of participants in employee benefit plans and their beneficiaries through disclosure and reporting requirements, and the … More -
Q:
What Administrative Body May Impose Remedies For A Violation Of The Employee Retirement Income Security Act?
A: ERISA has designated the Secretary of Labor broad powers to investigate and determine violations and impose remedies. The Secretary of Labor, plan participants, … More -
Q:
What Does The Employee Retirement Income Security Act (ERISA) Govern?
A: The Employee Retirement Income Security Act (ERISA) was passed to protect the interest of participants in employee benefit plans and their beneficiaries through … More -
Q:
What Administrative Body May Impose Remedies For A Violation Of The Employee Retirement Income Security Act (ERISA)?
A: The Employee Retirement Income Security Act (ERISA) has designated the Secretary of Labor broad powers to investigate and determine violations and impose remedies. … More
