Question

What is the purpose of ERISA

Answer 1

The Employee Retirement Income Security Act of 1974, as amended (ERISA) imposes numerous duties on fiduciaries holding employee benefit plan assets. This includes the manager of a private equity fund who is responsible for investing the assets of a fund that holds plan assets.

Answer 2

The simplest way to understand erisa is that it establishes minimum standards for retirement (pension plans), health, and other welfare benefit plans, including life insurance, disability insurance, and apprenticeship plans, to protect employees, but also to protect employers