ERISA also does not cover plans maintained outside the United States primarily for the benefit of nonresident aliens or unfunded excess benefit plans. The Plan is authorized, in accordance with this chapter, to establish a state-facilitated IRA savings program for private-sector workers.ERISA is a federal law that covers administrative aspects of employee benefit and retirement plans. Filing tips, notices, updates of filing requirements, and other helpful material to assist you in preparing your Form 5500 (Form 5500-EZ). Find answers to frequently asked questions about employee benefit plan audits, including welfare audit requirements and ERISA audit questions. Find general information about 401(k) plans, the tax advantages of sponsoring the plan and the types of plans available. If your employee benefit plan covers 100 employees or more, you know that annual plan audits are required under ERISA. Before completing the form, log in to myVRS for retirement counseling resources and review the Apply for Retirement page to determine if you can retire online.