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Employee Retirement Income Security Act of 1974 (ERISA)

A federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry to protect individuals in these plans.

Form 5500

An annual report that employee benefit plans must file with the Department of Labor, IRS, and PBGC, providing information about the plan's financial condition, investments, and operations.

Plan Administrator

The person or group responsible for managing the day-to-day operations and compliance of an employee benefit plan, such as a retirement or health plan.

Pension Benefit Guaranty Corporation (PBGC)

A federal agency that protects the retirement incomes of over 31 million American workers, retirees, and their families in private-sector defined benefit pension plans.

Secretary of the Treasury

The head of the U.S. Department of the Treasury, which manages federal finances and tax policy.

Secretary of Labor

The head of the U.S. Department of Labor, which oversees federal labor laws and programs.

Plan Year

The 12-month period for which an employee benefit plan keeps its records and calculates its annual report.