The overriding objective of ERISA was to promote and protect the retirement and other benefit interests of American workers. ERISA was a watershed legislative accomplishment which has substantially altered the design, administration, funding and communication of retirement plans for the vast majority of American workers and plan sponsors over the past 40 years.

Overall, ERISA has proven successful in accomplishing many of its aims. 

It established a meaningful framework within which employers can design and operate retirement plans. It also provided a number of reasonable protections for participants, including the 404(a) fiduciary rules, some of the disclosure requirements, the basic funding rules, the termination insurance program, and the rules regarding accrual of benefits, vesting and nondiscrimination.