Most employer-sponsored plans, such as a 401(k), fall under ERISA. Government employee plans and IRAs do not. ERISA was enacted in the 1970s to protect the retirement income of workers in the private sector.

Does ERISA protect IRAs?

Non-qualified retirement accounts

Individual retirement accounts (IRAs), including Roth IRAs, are not protected by the federal government under ERISA. The only exception is in the case of bankruptcy.

Does ERISA apply to simple IRAs?

SEP-IRAs and SIMPLE-IRAs are technically covered by ERISA, but are exempt from most ERISA rules. If you're in an ERISA plan, you generally have more protection than if you're in a non-ERISA plan. ... ERISA-covered plans must also provide certain protection to spouses of plan participants.