What is the Employee Retirement Income Security Act or ERISA?

ERISA requires important information regarding plan features, such as funding, be disclosed to participants. ERISA sets standards for those who manage plan assets; and, it also requires that a grievance and appeals process be established for participants of the plan.

ERISA has been amended several times. Some of these amendments include:

COBRA (Consolidated Omnibus Budget Reconciliation Act)
HIPAA (Health Insurance Portability and Accountability Act) Mental Health Parity Act

ERISA is often used to refer to the “full body of laws regulating employee benefit plans.”