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Employee Retirement Income Security Act of 1974 (ERISA)

ERISA protects plan participants and their beneficiaries, and requires plan administrators to provide plan information to them. It also sets rules to ensure that plan funds are protected and participants receive their benefits even if a company goes bankrupt.

If you have benefits with Gusto, here’s what we’ll do to help keep you compliant: 

  • Maintain compliance for employee / employer contributions by automating any necessary payroll deductions and maintaining records.
  • Distribute notices and disclosures required by ERISA, like the Summary Plan Description (SPD), and maintain records of when those were distributed to each employee.
  • The SPD is available to employers as part of the Health & Welfare Doc in Company Documents, and to employees in the Documents section of their Gusto accounts.
     

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