The statement is "false".
The Employee Retirement Income Security Act secures the retirement resources of Americans by executing rules that qualified plans must take after to guarantee design trustees don't abuse plan resources. Under ERISA, plans must provide members with data about arrangement highlights and financing, and outfit data routinely and for nothing out of pocket.
ERISA additionally sets least benchmarks for interest, vesting, advantage collection and subsidizing. The law characterizes to what extent a man might be required to work before getting to be plainly qualified to take an interest in an arrangement, to collect advantages and to have a non-forfeitable appropriate to those advantages. It additionally sets up point by point subsidizing decides that require design patrons to give sufficient financing to the arrangement.