Which of the following is a requirement for a valid pension plan under ERISA?

A requirement for a valid pension plan under the Employee Retirement Income Security Act (ERISA) is ensuring non-diversion of plan assets. This principle is fundamental to maintaining the integrity of retirement plans. ERISA was established to protect the interests of employee benefit plan participants and their beneficiaries. One of its core tenets is that assets held in pension plans cannot be diverted for purposes other than providing benefits to participants and their beneficiaries. This requirement helps to ensure that the funds are used solely for retirement benefits, which promotes the stability and reliability of retirement funds.

The other options listed, while they may pertain to design features of retirement plans, do not constitute legal requirements under ERISA for a pension plan to be considered valid. Matching contributions, guaranteed annual raises, and specific minimum benefits can be components of a pension plan, but they are not mandated by ERISA. Therefore, the correct answer highlights a critical regulatory compliance point that safeguards the benefits intended for employees.