Final answer:
ERISA does require employers to establish pension plans and meet specific benefit levels. It is a federal law that sets standards for pension plans offered by private employers.
Step-by-step explanation:
ERISA (The Employment Retirement Income Security Act) does require employers to establish pension plans and meet specific benefit levels. It is a federal law that sets standards for pension plans offered by private employers. It ensures that employers make appropriate contributions to the pension plans and protects the interests of the employees.
For example, ERISA requires employers to provide certain information to the employees about the pension plan, such as the plan's funding status, investment options, and vesting requirements. It also establishes rules regarding participation, vesting, and funding of the pension plans.
Overall, ERISA ensures that employers fulfill their obligations towards their employees' retirement by providing pension plans that meet specific standards.