Effects of the Employee Retirement Income Security Act on Pension Plans With Fewer Than 100 Participants

The Employee Retirement Income Security Act (ERISA) established minimum standards and requirements governing the design and operation of private pension plans. Responsibilities for carrying out the Act are assigned to the Department of Labor, the Internal Revenue Service, and the Pension Benefit Guaranty Corporation. As of mid-1977, 471,341 (93 percent) of the private pension plans had fewer than 100 participants. About 18 percent of the plans had terminated, and 82 percent continued.