(a) Part 2 of title I of the Employee Retirement Income Security Act
of 1974 (hereinafter referred to as ``the Act'') contains minimum
standards that a plan which is an employee pension benefit plan within
the meaning of section 3(2) of the Act and which is covered under part 2
must satisfy. (For a general explanation of the coverage of part 2, see
Sec. 2530.201-1.) Substantially identical requirements are imposed by
subchapter D of chapter 1 of subtitle A of the Internal Revenue Code of
1954 (hereinafter referred to as ``the Code'') for plans seeking
qualification for certain tax benefits under the Code. In general, the
Code provisions apply to ``qualified'' pension, profit-sharing, and
stock bonus plans described in section 401(a) of the Code, annuity plans
described in section 403(a) of the Code and bond purchase plans
described in section 405(a) of the Code. The standards contained in
title I of the Act apply generally to both ``nonqualified' and
``qualified'' employee pension benefit plans. The standards contained in
the Act, and the related Code provisions, are ``minimum'' standards. In
general, more liberal plan provisions (in terms of the benefit to be
derived by the employee) are not prohibited.
(b) For a definition of the term ``employee pension benefit plan'',
see section 3(2) of the Act and Sec. 2510.3-2.
(c) For a statement of the coverage of part 2 of the Act, see
sections 4 and 201 of the Act and Secs. 2510.3-2, 2510.3-3, 2530.201-1
and 2530.201-2.
