ERISA
ERISA, the Employee Retirement Income Security Act, sets federal standards for retirement and health plans in the private sector. It ensures that plan participants receive adequate protections, including fiduciary responsibility, transparency in reporting, and safeguarding of assets. For institutional investors managing pension funds, ERISA compliance is critical to maintaining regulatory standards and protecting plan beneficiaries.
Key Takeaways
- Sets standards for retirement and health plans.
- Ensures fiduciary responsibility and transparency.
- Protects plan participants’ interests.
- Critical for pension fund managers and institutional investors.