Question

The federal law that regulates companies that set up employee health and pension plans is known as:______

Answer 1

The federal law that regulates companies that set up employee health and pension plans is known as "The Employee Retirement Income Security Act".

The Employee Retirement Income Security Act of 1974 (ERISA) is signed by President Gerald Ford on labor day and became law. It is a federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry to provide protection for individuals through this plans.

ERISA is regulated by a division of the DOL known as the Employee Benefits Security Administration (EBSA). This agency provides assistance and education to individual workers, corporations, and plan managers about retirement and healthcare plans.

To learn more about ERISA, here

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