What does ERISA stand for?

The correct response is rooted in the full name of the federal law, which is the Employee Retirement Income Security Act. ERISA was enacted in 1974 to protect the interests of employee benefit plan participants and their beneficiaries. It establishes minimum standards for pension plans in private industry, helping to ensure that employees receive the benefits that have been promised to them. This law governs various aspects of employer-sponsored retirement plans and health benefits, ensuring accountability and transparency.

While the other choices present variations of the ERISA acronym, they do not accurately reflect the legislation's full title or scope of impact. Recognizing the correct title is fundamental to understanding both the specifics of the law and its implications for employee benefits and retirement plans in the United States.