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Word
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Definition
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Employer
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Employer: The term "employer" means any person acting directly as an employer, or indirectly in the interest of an employer, in relation to an employee benefit plan; and includes a group or association of employers acting for an employer in such capacity. See, 29 U.S.C. § 1002(5) The term implies a bona fide group or association of employers acting in the interest of its employer-members to provide benefits for their employees.
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ERISA
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ERISA: The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for most voluntarily established pension and health plans in private industry to provide protection for individuals in these plans.
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