ERISA
Employee Retirement Income Security Act
US law setting standards for private-sector retirement and health benefit plans.
HR & People
When you'd see it: Benefits administration and any decision about retirement or health plans. ERISA sets the rules employers must follow.
Why it matters: ERISA imposes fiduciary duties on those who manage employee retirement and health benefits, meaning they must act in employees' interest or face liability. It is why benefits decisions get handled so carefully.
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