The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for most voluntarily established pension and health plans in
private industry to provide protection for individuals in these plans.
ERISA requires plans to provide participants with plan information including important information about plan features and funding; provides fiduciary responsibilities
for those who manage and control plan assets; requires plans to establish a grievance and appeals process for participants to get benefits from their plans; and gives
participants the right to sue for benefits and breaches of fiduciary duty.
-- Excerpt courtesy the US Department of Labor
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