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jq80309

Explain the duties defined under Employee Retirement Income Security Act (ERISA).

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Answered by Rachel Green
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Duties defined under Employee Retirement Income Security Act

ERISA does the following: 
●It requires plans to provide participants with information about the plan including important 
information about plan features and funding.  
●Sets minimum standards for participation, vesting, benefit accrual and funding. 
●Requires accountability of plan fiduciaries. 
●Gives participants the right to sue for benefits and breaches of fiduciary duty. 
●Guarantees payment of certain benefits if a defined plan is terminated, through a federally 
chartered corporation, known as the Pension Benefit Guaranty Corporation.  
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Written 3 years ago
 
 
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