What Is the Difference Between ERISA and Non-ERISA Plans?

A plan under the Employees Retirement Income Security Act of 1974 is subject to strict government oversight, and the act sets requirements for plan providers to protect employee interests, according to the U.S. Department of Labor. A plan not under the Employees Retirement Income Security Act is not subject to these investor protections, states Strategic Benefit Services. To legally offer these plans, organizations must be hands-off and allow employees to manage most plan functions.