Employee Retirement Income Security Act of 1974


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Employee Retirement Income Security Act of 1974

Legislation 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.
References in periodicals archive ?
Direct filing is optional for CCTs, PSAs, GIAs and 103-12 IEs However, such direct filing can substantially reduce a plan's filing requirements or costs associated with such entities; see Employee Retirement Income Security Act of 1974 (ERISA) Regs.
Legislation now being debated in the House and Senate could substantially alter audit requirements under the Employee Retirement Income Security Act of 1974 (ERISA).
Most Employee Retirement Income Security Act of 1974 (ERISA) plans report on an accrual or modified cash basis; specifically, they accrue the employer contribution.
Further, there are provisions in the Employee Retirement Income Security Act of 1974 (ERISA) and other legislation that can pierce the corporate veil.
Boggs, the Supreme Court held that the Employee Retirement Income Security Act of 1974 preempted state law, thus disallowing the bequest of a nonparticipant spouse's community property interest in her participant spouse's pension plan.
To avoid many of the burdensome requirements of the Employee Retirement Income Security Act of 1974 (ERISA), a SERP must qualify as a "top-hat" plan--that is, a plan that is unfunded and maintained by the employer primarily to provide deferred compensation to a select group of management or highly compensated employees.
The Supreme Court has held that a denial of benefits under an Employee Retirement Income Security Act of 1974 plan is to be reviewed under a nondeferential de novo standard, unless the plan gives the administrator or fiduciary discretionary authority to determine eligibility for benefits or to construe the plan's terms (Firestone Tire and Rubber Co.
When Congress passed the Employee Retirement Income Security Act of 1974 (ERISA), it required, for the first time, auditing employee benefit plan financial statements on a broad scale.
The court in Renda found that Section 1052(a)(1)(a) of the Employee Retirement Income Security Act of 1974 (ERISA) and Sec.
Although the legislative history of the Employee Retirement Income Security Act of 1974 clearly indicated that a distribution such as Campbell received would have been taxable if it occurred prior to 1987, the legislative history of the TRA does not consider the distribution of excess contributions.
There are several points to note about these requirements: * Trustees and employers maintaining plans are not required to meet the general reporting requirements of the Employee Retirement Income Security Act of 1974 (ERISA).

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