ERISA (Employee Retirement Income Security Act)

Definition

A comprehensive 1974 federal law that sets minimum standards for most private pension and health plans to protect participants. ERISA establishes rules for plan funding, reporting, fiduciary duties, and participants' rights. The MPPAA's withdrawal liability provisions are part of ERISA.

Examples

• •The concept of a change in actuarial assumptions is well-rooted in ERISA's minimum funding provision at 29 U.S.C. Section 1084.

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