This plan allows eligible employees to: Set aside money towards their retirement. Make Roth contributions that can grow tax-free.ERISA does not require any employer to establish a retirement plan. It only requires that those who establish plans must meet certain minimum standards. Requirements for retirement plans. The special plans permit retirement on completion of 25 years of covered service, regardless of age. For Tier 4, 5 and 6 members, coverage is automatic. The main components of ERISA law revolve around employersponsored retirement plans and employee benefit plans. ERISA and Retirement Plans, 2 credits. International Business Transactions, 3 credits.