Money Management Glossary: Retirement Planning Terms
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- ERISA
- The term "ERISA" is an abbreviation of "Employee Retirement Income Security Act." Enacted in 1974 by the United States Federal Government, ERISA details private pension plan administration and investment practices.
- FICA
- FICA is an abbreviation of "Federal Insurance Contributions Act." FICA requires funds to be withheld by employers (from employee wages) and paid to the federal government for employees' participation in Social Security retirement benefits trust fund.