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Employee Retirement Income Security Act

   Also found in: Medical, Legal, Wikipedia 0.04 sec.
Employee Retirement Income Security Act (ERISA)
The law that regulates the operation of private pensions and benefit plans.

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The 1974 Employee Retirement Income Security Act set standards for company retirement plans based on the belief that employees would make good decisions regarding their retirement if they were properly educated, informed and given reasonable choices.
These firms perform more than 55% of the approximately 80,000 audits conducted annually in compliance with the Employee Retirement Income Security Act (ERISA).
Congress has also sought to protect workers' pension benefits through direct regulation, notably the Employee Retirement Income Security Act (ERISA) of 1974 (Public Law 93-406).
 
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