ERISA was passed in 1974 and it was primarily intended to address pension issues. The main components of ERISA law revolve around employersponsored retirement plans and employee benefit plans.Course Media Options. ERISA is a federal law that sets minimum standards for voluntarily established pension and health plans. All employment lawyers-whether they represent employers or employees-should cast off their fears about ERISA and make themselves aware of section 510. Retirement Security in the 21st Century: The Ohio State Law Journal, the Michael E. Moritz. Federal regulation. ERISA. The handbook illustrates the steps to be taken to keep a plan in compliance and the company out of court.