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Employee Retirement Income Security Act of 1974 (ERISA)

Legislation enacted in 1947 that protects workers from losing benefits that are provided through the workplace. The Act does not require employers to establish a benefit plan for employees but does include requirements for the plan when one is in place.

Grandfathered Plan

A health insurance plan already in effect before the provisions of the ACA were implemented that is allowed to continue being offered to enrollees under…