Take the Stress Out of ERISA Compliance

ERISA services help employers meet the complex requirements of the Employee Retirement Income Security Act (ERISA). These services support plan administration, help mitigate fiduciary risk and ensure compliance with Department of Labor (DOL) and IRS regulations. That includes preparing wrap documents, managing annual filings like Form 5500 and maintaining proper disclosures for welfare benefit plans and retirement plan design.

ERISA service providers—often third-party administrators (TPAs) or compliance specialists—serve as an extension of HR. They work with financial advisors, human resources teams and legal counsel to manage health plans, retirement plans and other employee benefit plans in accordance with ERISA mandates. The right provider delivers the functionality and oversight HR leaders need to reduce risk and support a compliant benefits strategy.

ERISA plans include a range of employee benefit plans covered under the Employee Retirement Income Security Act, a federal law enforced by the Department of Labor. Common examples include 401(k) plans, pension plans, group health plans and dental or vision insurance offered by employers. These are considered either retirement plans or welfare benefit plans and are subject to fiduciary responsibilities, disclosure requirements and Form 5500 filing obligations.

Other examples include life insurance, disability insurance and certain flex plans if sponsored by the employer. ERISA applies to both for-profit and non-profit organizations offering these benefits. Plan sponsors often partner with TPAs, financial advisors, or other providers for plan administration and to meet compliance requirements. These services support human resources teams in maintaining ERISA compliance and managing the functionality of the plans for plan participants.

ERISA regulations apply to private-sector employers that offer employee benefit plans such as retirement plans or health plans. This includes corporations, partnerships, non-profit organizations and other entities that act as plan sponsors. Any employer providing employee benefit plans subject to the Employee Retirement Income Security Act must meet DOL and IRS compliance requirements, including filing Form 5500 and maintaining plan documentation.

Governmental employers and churches are generally exempt from ERISA. For those required to comply, responsibilities include proper plan administration, clear communication with plan participants and managing fiduciary duties. Employers often work with TPAs, financial services providers and legal or financial advisors to manage ERISA services, stay compliant and reduce liability for plan sponsors.

ERISA plans are governed by the Employee Retirement Income Security Act, a federal law that sets standards for retirement plan design, health plans and other employee benefit plans. These plans are subject to strict fiduciary responsibilities, annual Form 5500 filings and oversight by the Department of Labor and IRS. Employers offering ERISA plans must manage disclosures, protect plan participants and follow compliance rules around plan administration.

Non-ERISA plans are exempt from these federal regulations. Common examples include church plans, government plans and certain voluntary benefits paid 100% by employees. These plans are not subject to ERISA's fiduciary services, financial reporting, or compliance rules. Understanding whether a plan is ERISA or non-ERISA helps human resources teams determine the compliance obligations and provider requirements associated with benefit offerings.