What does ERISA stand for in the context of employer-sponsored retirement plans?

The correct answer is the Employee Retirement Income Security Act. ERISA is a federal law established in 1974 that sets standards for most voluntarily established pension and health plans in private industry to provide protection for individuals in these plans. Its primary purpose is to ensure that employees receive the retirement benefits that they are promised. This law includes provisions related to plan participation, funding, disclosure, and fiduciary responsibilities, among other topics.

The other options do not accurately represent the meaning of ERISA. For example, the "Enterprise Risk Insurance Strategy Act," "Employee Resource Investment and Savings Act," and "Equity Retirement Investment Security Act" are not recognized legal terms concerning retirement plans. Understanding ERISA is crucial for comprehending the regulatory landscape surrounding employer-sponsored retirement plans and ensuring compliance and participant security.