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Circumstances that Prompted the Enactment of ERISA

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Can you please explain the circumstances that prompted the enactment of ERISA?

What types of benefits does ERISA protect? How does ERISA protect these benefits?

What are some requirements that ERISA imposes on plan administrators?

Please be specific and detail as possible because it takes me time to understand the information and site any and all sources.

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Solution Summary

The solution discusses circumstances that prompted the enactment of ERISA.

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Here is some information on ERISA for you:

ERISA requires plans to provide participants with plan information including important information about plan features and funding; provides fiduciary responsibilities for those who manage and control plan assets; requires plans to establish a grievance and appeals process for participants to get benefits from their plans; and gives participants the right to sue for benefits and breaches of fiduciary duty.

In general, ERISA does not cover group health ...

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