Who regulates retirement plans in Florida?

The correct answer, ERISA, stands for the Employee Retirement Income Security Act. It is a federal law that sets uniform standards for pension and health plans in private industry to protect individuals in these plans. While the regulation of various aspects of retirement plans may involve state agencies and laws, ERISA is the primary federal legislation that establishes standards for retirement plans and governs their administration and fiduciary responsibilities. This means that, regardless of state law, retirement plans must comply with ERISA guidelines, which aim to protect employee rights and ensure they receive the benefits promised by their employers.

The other choices represent entities that do not specifically regulate retirement plans under the same scope as ERISA. The Department of Financial Services and the Florida Division of Insurance do have roles in overseeing certain insurance products and the financial services sector within Florida, but they do not specifically regulate retirement plans in the context governed by ERISA. The National Labor Relations Board deals primarily with labor relations and collective bargaining rights rather than directly regulating retirement plans. Thus, ERISA stands apart as the correct answer because it specifically outlines the federal framework for retirement plan regulation.