ERISA is a federal law that sets minimum standards for retirement plans in private industry. This publication discusses retirement plans you can set up and maintain for yourself and your employees.In this publication, "you" refers to the employer. SIMPLE IRA plans are easy to set up. You fill out a short form to establish a plan and ensure that SIMPLE IRAs are set up for each employee. HUB Retirement Select can help you administer a 401(k) plan that helps employees save for retirement! Learn more about small business retirement plans here! Learn about retirement plans for smaller businesses and how to select the right type for you and your employees. Compare SEP or SIMPLE IRAs vs 401(k)s. ERISA has established plan limits for contributions and benefits that apply to all qualified retirement plans.