Basic ERISA compliance requires employers provide notice to participants about plan information, their rights under the plan, and how the plan is funded. ERISA's definition of "fiduciary" basically encompasses three categories of responsibility or activities with respect to an employee benefit plan.Qualified retirement plans, including a 401(k), have annual contribution limits. ERISA does not require any employer to establish a retirement plan. It only requires that those who establish plans must meet certain minimum standards. ERISA is a federal law that regulates employee benefit plans. For an employer to receive favorable tax treatment for benefit plans, it must comply with ERISA. We specialize in helping our clients design and structure benefits packages, while also ensuring these benefits meet all regulatory and reporting requirements. The SECURE Act contains the most significant legislative enhancements to the private-sector retirement system in over a decade.