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Employee Retirement Income Security Act of 1974 [Public Law 93–406] [As Amended Through P.L

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Employee Retirement Income Security Act of 1974 [Public Law 93–406] [As Amended Through P.L G:\COMP\ERISA\EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 19....XML Employee Retirement Income Security Act of 1974 [Public Law 93–406] [As Amended Through P.L. 117–2, Enacted March 11, 2021] øCurrency: This publication is a compilation of the text of Public Law 93-406. It was last amended by the public law listed in the As Amended Through note above and below at the bottom of each page of the pdf version and reflects current law through the date of the enactment of the public law listed at https:// www.govinfo.gov/app/collection/comps/¿ øNote: While this publication does not represent an official version of any Federal statute, substantial efforts have been made to ensure the accuracy of its contents. The official version of Federal law is found in the United States Statutes at Large and in the United States Code. The legal effect to be given to the Statutes at Large and the United States Code is established by statute (1 U.S.C. 112, 204).¿ [Material appearing in brackets and in footnotes do not appear in the Act. Numbers in brackets inserted next to section numbers are the corresponding section numbers in title 29, United States Code.] AN ACT To provide for pension reform. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SHORT TITLE AND TABLE OF CONTENTS 1 SECTION 1. ø1001 note¿ This Act may be cited as the ‘‘Em- ployee Retirement Income Security Act of 1974’’. TABLE OF CONTENTS Sec. 1. Short title and table of contents. TITLE I—PROTECTION OF EMPLOYEE BENEFIT RIGHTS Subtitle A—General Provisions Sec. 2. Findings and declaration of policy. Sec. 3. Definitions. Sec. 4. Coverage. Subtitle B—Regulatory Provisions PART 1—REPORTING AND DISCLOSURE Sec. 101. Duty of disclosure and reporting. Sec. 102. Plan description and summary plan description. Sec. 103. Annual reports. Sec. 104. Filing with Secretary and furnishing information to participants. Sec. 105. Reporting of participant’s benefit rights. 1 For provisions of the Reorganization Plan No. 4 of 1978, which was ratified and affirmed as law October 19, 1984, P.L. 98–532, 98 Stat. 2705, see note that appears at the end of the Act. 1 March 25, 2021 As Amended Through P.L. 117-2, Enacted March 11, 2021 VerDate Mar 15 2010 13:56 Mar 25, 2021 Jkt 000000 PO 00000 Frm 00001 Fmt 9001 Sfmt 6611 G:\COMP\ERISA\ERISAO1.BEL HOLC G:\COMP\ERISA\EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 19....XML Sec. 1 ERISA 2 Sec. 106. Reports made public information. Sec. 107. Retention of records. Sec. 108. Reliance on administrative interpretations. Sec. 109. Forms. Sec. 110. Alternative methods of compliance. Sec. 111. Repeal and effective date. PART 2—PARTICIPATION AND VESTING Sec. 201. Coverage. Sec. 202. Minimum participation standards. Sec. 203. Minimum vesting standards. Sec. 204. Benefit accrual requirements. Sec. 205. Requirement of joint and survivor annuity and preretirement survivor an- nuity. Sec. 206. Other provisions relating to form and payment of benefits. Sec. 207. Temporary variances from certain vesting requirements. Sec. 208. Mergers and consolidations of plans or transfers of plan assets. Sec. 209. Recordkeeping and reporting requirements. Sec. 210. Multiple employer plans and other special rules. 2 Sec. 211. Effective dates. PART 3—FUNDING Sec. 301. Coverage. Sec. 302. Minimum funding standards. Sec. 303. Minimum funding standards for single-employer defined benefit pension plans. Sec. 304. Minimum funding standards for multiemployer plans. Sec. 305. Additional funding rules for multiemployer plans in endangered status or critical status. PART 4—FIDUCIARY RESPONSIBILITY Sec. 401. Coverage. Sec. 402. Establishment of plan. Sec. 403. Establishment of trust. Sec. 404. Fiduciary duties. Sec. 405. Liability for breach by co-fiduciary. Sec. 406. Prohibited transactions. Sec. 407. 10 percent limitation with respect to acquisition and holding of employer securities and employer real property by certain plans. Sec. 408. Exemptions from prohibited transactions. Sec. 409. Liability for breach of fiduciary duty. Sec. 410. Exculpatory provisions; insurance. Sec. 411. Prohibition against certain persons holding certain positions. Sec. 412. Bonding. Sec. 413. Limitation on actions. Sec. 414. Effective date. PART 5—ADMINISTRATION AND ENFORCEMENT Sec. 501. Criminal penalties. Sec. 502. Civil enforcement. Sec. 503. Claims procedure. Sec. 504. Investigative authority. Sec. 505. Regulations. Sec. 506. Other agencies and departments. øCoordination and responsibility of agencies enforcing Employee Retirement Income Security Act and re- lated Federal laws.¿ 3 Sec. 507. Administration. Sec. 508. Appropriations. Sec. 509. Separability provisions. Sec. 510. Interference with rights protected under Act. Sec. 511. Coercive interference. Sec. 512. Advisory Council. 2 The item relating to section 210 (as amended by section 903(b)(2)(B) of Public Law 109– 280) applies December 31, 2009 pursuant to subsection (c) of such section 903. Prior to December 31, 2009, such item reads as follows: Sec. 210. Plans maintained by more than one employer, predecessor plans, and employer groups. 3 So in original. Does not conform to actual section. Actual heading is shown in brackets. March 25, 2021 As Amended Through P.L. 117-2, Enacted March 11, 2021 VerDate Mar 15 2010 13:56 Mar 25, 2021 Jkt 000000 PO 00000 Frm 00002 Fmt 9001 Sfmt 6611 G:\COMP\ERISA\ERISAO1.BEL HOLC G:\COMP\ERISA\EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 19....XML 3 ERISA Sec. 1 Sec. 512. Advisory Council. Sec. 513. Research, studies, and annual report. Sec. 514. Effect on other laws. Sec. 515. Delinquent contributions. Sec. 516. Outreach to promote retirement income savings. Sec. 517. National Summit on Retirement Savings. Sec. 518. Authority to postpone certain deadlines by reason of Presidentially de- clared disaster or terroristic or military actions. Sec. 519. Prohibition on false statement and representations. March 25, 2021 As Amended Through P.L. 117-2, Enacted March 11, 2021 VerDate Mar 15 2010 13:56 Mar 25, 2021 Jkt 000000 PO 00000 Frm 00003 Fmt 9001 Sfmt 6611 G:\COMP\ERISA\ERISAO1.BEL HOLC G:\COMP\ERISA\EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 19....XML Sec. 1 ERISA 4 Sec. 520. Applicability of State law to combat fraud and abuse. Sec. 521. Administrative summary cease and desist orders and summary seizure orders against health plans in financially hazardous condition. øAdmin- istrative summary cease and desist orders and summary seizure orders against multiple employer welfare arrangements in financially haz- ardous condition.¿ 4 Sec. 522. Coordination of enforcement regarding violations of certain health care provider requirements; complaint process. PART 6—CONTINUATION COVERAGE AND ADDITIONAL STANDARDS FOR GROUP HEALTH PLANS Sec. 601. Plans must provide continuation coverage to certain individuals. Sec. 602. Continuation coverage. Sec. 603. Qualifying event. Sec. 604. Applicable premium. Sec. 605. Election. Sec. 606. Notice requirements. Sec. 607. Definitions and special rules. Sec. 608. Regulations. Sec. 609. Additional standards for group health plans. PART 7—GROUP HEALTH PLAN REQUIREMENTS Subpart A—Requirements Relating to Portability, Access, and Renewability Sec. 701. Increased portability through limitation on preexisting condition exclu- sions. Sec. 702. Prohibiting discrimination against individual participants and bene- ficiaries based on health status. Sec. 703. Guaranteed renewability in multiemployer plans and multiple employer welfare arrangements. Subpart B—Other Requirements Sec. 711. Standards relating to benefits for mothers and newborns. Sec. 712. Parity in mental health and substance use disorder benefits. Sec. 713. Required coverage reconstructive surgery following mastectomies. Sec. 714. Coverage of dependent students on medically necessary leave of absence. Sec. 715. Additional market reforms. Sec. 716. Preventing surprise medical bills. Sec. 719. Maintenance of price comparison tool. 5 Sec. 720. Protecting patients and improving the accuracy of provider directory in- formation. 5 Sec. 718. Continuity of care. Sec. 722. Other patient protections. Sec. 723. Air ambulance report requirements. Sec. 724. Increasing transparency by removing gag clauses on price and quality in- formation. Sec. 725. Reporting on pharmacy benefits and drug costs. Subpart C—General Provisions Sec. 731. Preemption; State flexibility; construction. Sec. 732. Special rules relating to group health plans. Sec. 733. Definitions. Sec. 734. Regulations. TITLE II—AMENDMENTS TO THE INTERNAL REVENUE CODE RELATING TO RETIREMENT PLANS Sec. 1001. Amendment of Internal Revenue Code of 1954. 4 So in original. The item relating to section 521 does not conform to actual section heading. Actual heading is shown in brackets. 5 The placement of items relating to section 719 after the item relating to section 716 is so in law. And placement of the item relating to section 720 following the item relating to section 719 is so in law. See amendments made by sections 114(c)(2) and 116(d)(1) of division BB of Public Law 116–260. March 25, 2021 As Amended Through P.L. 117-2, Enacted March 11, 2021 VerDate Mar 15 2010 13:56 Mar 25, 2021 Jkt 000000 PO 00000 Frm 00004 Fmt 9001 Sfmt 6611 G:\COMP\ERISA\ERISAO1.BEL HOLC G:\COMP\ERISA\EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 19....XML 5 ERISA Sec. 1 Subtitle A—Participation, Vesting, Funding, Administration, Etc. PART 1—PARTICIPATION, VESTING, AND FUNDING Sec. 1011. Minimum participation standards. Sec. 1012. Minimum vesting standards. Sec. 1013. Minimum funding
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