Which one of the following is not true of the Employee Retirement Income Security Act (ERISA)?Question 36 options:It sets the minimum standards and requirements that the pension plan must meet.It seeks to ensure that all employees covered by pension plans receive the benefits due them under the plans.It does not apply to employee benefit plans that are established by federal, state, or local government employers.It requires an employer to provide a pension plan for its employees.

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13-12-2022
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Which one of the following is not true of the Employee Retirement Income Security Act (ERISA)?Question 36 options:It sets the minimum standards and requirements that the pension plan must meet.It seeks to ensure that all employees covered by pension plans receive the benefits due them under the plans.It does not apply to employee benefit plans that are established by federal, state, or local government employers.It requires an employer to provide a pension plan for its employees.

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tutorconsortium113 tutorconsortium113 · Answer 1 · 2022-12-18T10:24:28+01:00

According to the Employee Retirement Income Security Act, pensions and other benefits must be described to employees in a way that the average worker can understand.

What statement about the Employee Retirement Income Security Act is accurate?

Employee pensions and other benefits must be explained in a way that the typical employee can understand.The 401(k) plan, pension, deferred-compensation plan, and profit-sharing plan are examples of common employer-sponsored retirement funds that are covered by ERISA.

Additionally, IRAs and Simplified Employee Pensions (SEPs), which were already noted, are exempt from ERISA regulations.Employer-sponsored retirement plans including 401(k)s, pensions, deferred compensation plans, and profit-sharing plans are among the types of programs that are protected under ERISA.

Federal law known as the Employee Retirement Income Security Act of 1974 (ERISA) establishes minimum requirements for the majority of voluntarily established retirement and health plans in the private sector in order to protect participants in these plans.

To learn more about ERISA refer

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