• Is the Employee Retirement Income Security Act. It was enacted into law in 1974.
• The Employee Retirement Income Security Act of 1974, as amended. This federal law provides for regulation of private pension and employee benefit plans by the Department of Labor and Pension Benefit Guaranty Corporation. The IRS also regulates such plans under provisions of the Internal Revenue Code.
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Pension benefit guaranty corporation
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| ||Contingent pension liability: Under Erisa, the firm is liable to the plan participants for up to 39% of the net worth of the firm.|
| ||Pension benefit guaranty corporation: Abbreviated PBGC. A federal agency that insures the vested benefits of pension plan participants (established in 1974 by the Erisa legislation).The U.S. government agency that insures benefits in defined benefit pension plans.|