ERISA is one of the most important federal laws protecting the interests of participants in employee benefit plans and their beneficiaries. The ERISA law contains a provision stating that ERISA preempts all state laws that "relate to" employee benefit plans.Illinois requires all employers with employees in Illinois to send those employees a summary of group health insurance benefits. ERISA is a set of federal laws designed to protect employees of private employers who provide pension, retirement, or profit-sharing plans. How should I fill out the form? ERISA is a federal law that regulates the handling of Employee Benefit Plans. The Employee Retirement Security Act of 1974 (ERISA), is a complex federal law that regulates employee health care benefit and pension plans. Below is a summary of certain federal and Illinois laws that may be of interest.