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Benefits

ERISA

In accounting, ERISA means the Employee Retirement Income Security Act of 1974 — the federal law that governs private employers' benefit plans, health and retirement alike: a written plan document, disclosure to participants, annual reporting and fiduciary duties.

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Authority: 29 U.S.C. §1102 (opens in a new tab). Sources

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From the free founder back-office course, taught on one company's books, with exercises to work it yourself.

BenefitsERISA: plan document, SPD and Form 5500The plan document, the SPD, the fiduciary duties, and Form 5500 — including the small welfare plan exemption Northwind's plan uses.9 min

What it is not called

Each of these means something else. Use one here and an accountant reading the product notices.

the IRS rules (the Code is a separate layer)

Terms this one depends on

Plan documentThe written instrument every ERISA plan must be established and maintained under, naming the fiduciaries and stating how the plan works. An insurance certificate alone often is not one

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Benefits payable
Cafeteria plan
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Employee benefits expense
Employer shared responsibility paymentBenefitsEmployer shared responsibility paymentWhat an ALE owes the IRS when a full-time employee gets a premium tax credit on the Marketplace: under §4980H(a), for not offering coverage to 95% of full-time employees, $3,340 a year for 2026 per full-time employee minus 30; under §4980H(b), for coverage that was unaffordable or not minimum value, $5,010 a year for 2026 per credited employee, capped at the (a) amount
ERISA fiduciary
Form 1095-B
Form 1095-C

Previous in BenefitsKEmployer shared responsibility paymentWhat an ALE owes the IRS when a full-time employee gets a premium tax credit on the Marketplace: under §4980H(a), for not offering coverage to 95% of full-time employees, $3,340 a year for 2026 per full-time employee minus 30; under §4980H(b), for coverage that was unaffordable or not minimum value, $5,010 a year for 2026 per credited employee, capped at the (a) amount JNext in BenefitsERISA fiduciaryAnyone who exercises discretion over a plan or its assets, starting with the named fiduciary the plan document must name. Must act solely in participants' interest, for the exclusive purpose of providing benefits and paying reasonable plan expenses, prudently, diversifying investments, and by the plan's terms

Defined in Lexicon. This page is generated from that document, so the two can't disagree.

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