Retirement Income Security Act of 1974 (ERISA)
(Pension Reform Act of 1974)
88 United States Statutes at Large 829
Signed by the President
September 2, 1974
SHORT TITLE AND TABLE OF CONTENTS
Act Section 1. This Act may be cited as the "Employee
Retirement Income Security Act of 1974".
1. Short Title and table of contents.
PROTECTION OF EMPLOYEE BENEFIT RIGHTS
Subtitle A General Provisions.
2. Findings and declaration of policy.
Section 3. Definitions.
Section 4. Coverage.
B Regulatory Provisions
Part 1 Reporting and Disclosure.
Section 101 Duty of disclosure and reporting.
Section 102 Plan description and summary plan description.
Section 103 Annual reports.
Section 104 Filing with Secretary and furnishing information to participants.
Section 105 Reporting of participant's benefit rights.
Section 106 Reports made public information.
Section 107 Retention of records.
Section 108 Reliance on administrative interpretations.
Section 109 Forms.
Section 110 Alternative methods of compliance.
Section 111 Repeal and effective date.
Part 2 Participation and Vesting.
Section 201 Coverage.
Section 202 Minimum participation standards.
Section 203 Minimum vesting standards.
Section 204 Benefit accrual requirements.
Section 205 Joint and survivor annuity requirement.
Section 206 Other provisions relating to form and payment of benefits.
Section 207 Temporary variances from certain vesting requirements.
Section 208 Mergers and consolidations of plans or transfers of plan assets.
Section 209 Record keeping and reporting requirements.
Section 210 Plans maintained by more than one employer, predecessor plans, and
Section 211 Effective dates.
Part 3 Funding.
Section 301 Coverage.
Section 302 Minimum funding standards.
Section 303 Variance from minimum funding standard.
Section 304 Extension of amortization periods.
Section 305 Alternative minimum funding standard.
Section 306 Security for waivers of minimum funding standard and extensions of
Section 307 Security required upon adoption of plan amendment resulting in
Section 308 Effective dates.
Part 4 Fiduciary Responsibility
Section 401 Coverage.
Section 402 Establishment of plan.
Section 403 Establishment of trust.
Section 404 Fiduciary duties.
Section 405 Liability for breach by co-fiduciary.
Section 406 Prohibited transactions.
Section 407 10 percent limitation with respect to acquisition and holding of
employer securities and employer real property by certain plans.
Section 408 Exemptions from prohibited transactions.
Section 409 Liability for breach of fiduciary duty.
Section 410 Exculpatory provisions; insurance.
Section 411 Prohibition against certain persons holding certain positions.
Section 412 Bonding.
Section 413 Limitation on actions.
Section 414 Effective date.
Part 5 Administration and Enforcement.
Section 501 Criminal penalties.
Section 502 Civil enforcement.
Section 503 Claims procedure.
Section 504 Investigative authority.
Section 505 Regulations.
Section 506 Other agencies and departments.
Section 507 Administration.
Section 508 Appropriations.
Section 509 Separability provisions.
Section 510 Interference with rights protected under Act.
Section 511 Coercive interference.
Section 512 Advisory Council.
Section 513 Research, studies, and annual report.
Section 514 Effect on other laws.
Section 515 Delinquent contributions.
Part 6 Group Health Plans.
Section 601 Plans must provide continuation coverage to certain individuals.
Section 602 Continuation coverage.
Section 603 Qualifying event.
Section 604 Applicable premium.
Section 605 Election.
Section 606 Notice requirements.
Section 607 Definitions and special rules.
Section 608 Regulations.
Section 609 Additional standards for group health plans.
II AMENDMENTS TO THE INTERNAL REVENUE CODE RELATING
TO RETIREMENT PLANS
1001 Amendment of Internal Revenue Code of 1954.
Subtitle A Participation, Vesting, Funding, Administration, Etc.
Part 1 Participation, Vesting, and Funding.
Section 1011 Minimum participation standards.
Section 1012 Minimum vesting standards.
Section 1013 Minimum funding standards.
Section 1014 Collectively bargained plans.
Section 1015 Definitions and special rules.
Section 1016 Conforming and clerical amendments.
Section 1017 Effective dates and transitional rules.
Part 2 Certain Other Provisions Relating to Qualified Retirement Plans.
Section 1021 Additional plan requirements.
Section 1022 Miscellaneous provisions.
Section 1023 Retroactive changes in plan.
Section 1024 Effective dates.
Part 3 Registration and Information.
Section 1031 Registration and information.
Section 1032 Duties of Secretary of Health, Education, and Welfare.
Section 1033 Reports by actuaries.
Section 1034 Effective dates.
Part 4 Declaratory Judgments Relating to Qualification of Certain
Section 1041 Tax Court procedure.
Part 5 Internal Revenue Service
Section 1051 Establishment of Office.
Section 1052 Authorization of appropriations.
B Other Amendments to the Internal Revenue Code Relating to Retirement Plans.
Section 2001 Contributions on behalf of self-employed individuals and
Section 2002 Deduction for retirement savings.
Section 2003 Prohibited transactions.
Section 2004 Limitations on benefits and contributions.
Section 2005 Taxation of certain lump sum distributions.
Section 2006 Salary reduction regulations.
Section 2007 Rules for certain negotiated plans.
Section 2008 Certain armed forces survivor annuities.
III JURISDICTION, ADMINISTRATION, ENFORCEMENT; JOINT PENSION, PROFIT-SHARING,
AND EMPLOYEE STOCK OWNERSHIP PLAN TASK FORCE, ETC.
Subtitle A Jurisdiction, Administration, and Enforcement
Section 3001 Procedures in connection with the issuance of certain determination
letters by the Secretary of the Treasury.
Section 3002 Procedures with respect to continued compliance with requirements
relating to participation, vesting, and funding standards.
Section 3003 Procedures in connection with prohibited transactions.
Section 3004 Coordination between the Department of the Treasury and the
Department of Labor.
B Joint Pension, Profit Sharing, and Employee Stock Ownership Plan Task Force;
1 Joint Pension, Profit Sharing, and Employee Stock Ownership Plan Task Force.
Section 3021 Establishment.
Section 3022 Duties.
Part 2 Other Studies.
Section 3031 Congressional study.
Section 3032 Protection for employees under Federal procurement, construction,
and research contracts and grants.
C Enrollment of Actuaries
3041 Establishment of Joint Board for the enrollment of actuaries.
Section 3042 Enrollment by Joint Board.
Section 3043 Amendment of Internal Revenue Code.
IV PLAN TERMINATION INSURANCE.
Subtitle A Pension Benefit Guaranty Corporation.
Section 4001 Definitions.
Section 4002 Pension Benefit Guaranty Corporation.
Section 4003 Investigatory authority; cooperation with other agencies; civil
Section 4004 (Repealed).
Section 4005 Establishment of pension benefit guaranty funds.
Section 4006 Premium rates.
Section 4007 Payment of premiums.
Section 4008 Report by the corporation.
Section 4009 Portability assistance.
Section 4021 Plans covered
Section 4022 Single-employer plan benefits
Section 4022A Multi-employer plan benefits guaranteed.
Section 4022B Aggregate limit on benefits guaranteed.
Section 4023 Plan fiduciaries.
Section 4041 Termination of single-employer plans.
Section 4041A Termination of multi-employer plans.
Section 4042 Institution of termination
proceedings by the corporation.
Section 4043 Reportable events.
Section 4044 Allocation of assets.
Section 4045 Recapture of certain payments.
Section 4046 Reports to trustee.
Section 4047 Restoration of plans.
Section 4048 Date of termination.
Section 4049 (Repealed).
Section 4061 Amounts payable by the corporation.
Section 4062 Liability for termination of
single-employer plans under a distress termination.
Section 4063 Liability of substantial employer for
withdrawal from single-employer plans under multiple controlled groups.
Section 4064 Liability on termination of
single-employer plans under multiple controlled groups.
Section 4065 Annual report for plan administrator.
Section 4066 Annual notification of substantial
Section 4067 Recovery of liability for plan
Section 4068 Lien for liability.
Section 4069 Treatment of transactions to evade
liability; effect of corporate reorganization.
Section 4070 Enforcement authority relating to
terminations of single-employer plans.
E Special Provisions for Multi-employer Plans.
I Employer Withdrawals.
Section 4201 Withdrawal liability established.
Section 4202 Determination and collection of
liability; notification of employer.
Section 4203 Complete withdrawal.
Section 4204 Sale of assets.
Section 4205 Partial withdrawals.
Section 4206 Adjustment for partial withdrawal.
Section 4207 Reduction or waiver of complete
Section 4208 Reduction or abatement of partial
Section 4209 De minimis rule.
Section 4210 No withdrawal liability for certain
temporary contribution obligation periods.
Section 4211 Methods for computing withdrawal
Section 4212 Obligation to contribute; special
Section 4213 Actuarial assumptions, etc.
Section 4214 Application of plan amendments.
Section 4215 Plan notification to corporation of
potentially significant withdrawals.
Section 4216 Special rules for Section 404(c)
Section 4217. Application of part in case of certain pre-1980 withdrawals.
Section 4218 Withdrawal not to occur merely
because of change in business form or suspension of contributions during labor
Section 4219 Notice, collection, etc., of
Section 4220 Approval of amendments.
Section 4221 Resolution of disputes.
Section 4222 Reimbursements for uncollectible
Section 4223 Withdrawal liability payment fund.
Section 4224 Alternative method of withdrawal
Section 4225 Limitation on withdrawal liability.
Part 2 Merger or Transfer of Plan Assets or Liabilities.
Section 4231 Mergers and transfers between
Section 4232 Transfers between a multi-employer
plan and a single-employer plan.
Section 4233 Partition.
Section 4234 Asset transfer rules.
Section 4235 Transfers pursuant to change in
Part 3 Reorganization; Minimum Contribution Requirement for Multi-employer
Section 4241 Reorganization status.
Section 4242 Notice of reorganization and finding
Section 4243 Minimum contribution requirement.
Section 4244 Overburden credit against minimum
Section 4244A Adjustments in accrued benefits.
Section 4245 Insolvent plans.
Part 4 Financial Assistance.
Section 4261 Financial assistance.
Part 5 Benefits After Termination.
Section 4281 Benefits under certain terminated
Part 6 Enforcement.
Section 4301 Civil actions.
Section 4302 Penalty for failure to provide
Section 4303 Election of plan status.
F Transition Rules and Effective Dates.
4401 Amendment to Internal Revenue Code of 1954.
Section 4402 Transition rules and effective dates.
TITLE I. PROTECTION OF EMPLOYEE BENEFIT RIGHTS
Last updated: 03-04