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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.

Young Invincibles

A phrase used to describe relatively healthy young adults who often forgo health insurance because they don’t anticipate needing medical care.