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Employee Retirement Income Security Act (ERISA)

Employee Retirement Income Security Act (ERISA) definition - business

Employee Retirement Income Security Act (ERISA)

A 1974 act that protects the retirement income of pension fund participants by setting standards for eligibility, performance, investment selection, funding, and vesting. The act was designed to curb abuses by pension fund managers so as to ensure that retirement funds would actually be available at the time of the workers' retirement.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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