An employment-based plan covered under the Employee Retirement Income Security Act. Whether coverage is provided through insurance or a different method of employer coverage, there are certain essential requirements it must meet. These key elements include: a written plan that describes the benefit structure and guides action; a trust fund to hold the plan’s assets; a record keeping system to track all types of payments, maintain participant and beneficiary information, and to assist in preparing reporting documents; and documents to provide plan information to both the government and to employees participating in the plan