ERISA (the Employee Retirement Income Security Act)contains provisions affecting retirement and welfare plans.

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ERISA technically applies to employee benefit plans and covers two basic types of plans. The first type of plan ERISA covers is welfare plans. A welfare plan is any plan, program, or fund that the employer maintains to provide the following: medical, surgical, or hospital care; benefits for sickness, accident, disability, or death; unemployment benefits; vacation benefits; apprenticeship and training programs; day care centers; scholarship funds; prepaid legal services; or severance pay. However, payroll practices from the employer's general assets are not welfare benefit plans covered by ERISA. The other type of plan ERISA covers is retirement or pension plans. There are two general forms of pension plans: those with defined contributions and those with defined benefits.

ERISA (The Employee Retirement Income Security Act)contains Provisions Affecting Retirement