by Answerbag Staff on May 20th, 2011

Answerbag Staff

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What government agency is responsible for retirement plans?

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  • by Jensen Johansson on May 23rd, 2011

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    Professionally Researched. (What's this?)

    With the implementation of the Employee Retirement Income Security Act (ERISA) in 1974, the United States Department of Labor became responsible for retirement plans. ERISA is a federal law, and it does not force employers to establish a pension plan, only to meet certain minimum standards if they choose to establish a plan for the workers.

    References:

    United States Department of Labor: Frequently Asked Questions about Pension Plans and ERISA

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