ERISA does not require any employer to establish a retirement plan. It only requires that those who establish plans must meet certain minimum standards.Create a Plan Document: Prepare the terms of the plan, including eligibility, contributions, and vesting schedules. File Necessary Forms: File IRS Form 5500 every year to report the plan's status and compliance. Employee Stock Ownership Plan (ESOPs). Self-directed 401k falls under federal code (ERISA) and 401k anti-alienation protection. 401k retirement assets are shielded from creditors in Pennsylvania. ERISA protects Pennsylvania employees from potential mismanagement of retirement accounts, pensions, and even long-term disability benefits. Learn about the 401k and benefit plan audit services offered to organizations in Pennslyvania and across the state - Pennslyvania 401k Audit. Maximize your business's retirement plan: Compare performance, fees, fiduciary protection, and employee engagement.