Employee Benefits Exam 1
– Comprehensive Study
Guide and Key Concepts
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Terms in this set (11)
Whaat is the ERISA of 1974 The Employee Retirement Income Security Act (ERISA) of
1974 establishes minimum standards for retirement, health, and other
welfare benefit plans,
including life insurance, disability insurance, and apprenticeship plans.
ERISA's extensive rules address the federal income tax effects of transactions associated with
employee benefit plans, with
mandates that qualified plans must follow to ensure
that plan fiduciaries do not misuse plan assets.
ERISA is also called Pension Reform Act, protects
the retirement assets of
Americans
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