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Employee Retirement Income Security Act of 1974
Employee Retirement Income Security Act of 1974, ERISAA federal law that protects individuals covered by voluntarily administered health insurance and pension plans. Important amendments to ERISA are the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), the Health Insurance Portability and Accountability Act (HIPAA), Newborns' and Mothers' Health Protection Act, Mental Health Parity Act, and the Women's Health and Cancer Rights Act. LegalSeeEmployee Retirement Income Security ActEmployee Retirement Income Security Act of 1974
Employee Retirement Income Security Act of 1974Legislation in the United States, passed in 1974, that established a number of regulations to ensure that employers and other involved parties do not misuse the funds entrusted to them in retirement accounts. Among other provisions, the Act requires retirement account managers to provide information to account holders on a regular basis. It also sets standards for managers' use of discretionary authority and allows account holders to sue their pensions for unpaid benefits.AcronymsSeeERISA |