What does ERISA stand for?

ERISA stands for the Employee Retirement Income Security Act. This federal law was enacted in 1974 to set standards for pension and health plans in the private industry. Its primary goal is to protect the interests of employee benefit plan participants and their beneficiaries by requiring the disclosure of financial and other information to them, as well as establishing standards of conduct for plan managers and fiduciaries. ERISA also provides participants with the right to sue for benefits and breaches of fiduciary duty, ensuring that their benefits are safeguarded and managed responsibly.

The other options do not accurately reflect the contents or purpose of this legislation. They represent titles that don't correspond to any known acts related to employee benefits or insurance governance, which reinforces the clarity around ERISA's role in securing employee retirement and health benefits.