The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry to provide protection for individuals in these plans. ERISA requires plans to
provide participants with plan information including important information about plan features and funding; sets minimum standards for participation, vesting, benefit accrual and funding; provides fiduciary responsibilities for those who manage and control plan assets; requires plans to establish a grievance and appeals process for participants to get benefits from their plans; gives participants the right to sue for benefits and breaches of fiduciary duty; and, if a defined benefit plan is
terminated, guarantees payment of certain benefits through a federally chartered corporation, known as the Pension Benefit Guaranty Corporation (PBGC). In general, ERISA does not cover plans established or maintained by governmental entities, churches for their employees, or plans which are maintained solely to comply with applicable workers compensation, unemployment or disability laws. ERISA also does not cover plans maintained outside
the United States primarily for the benefit of nonresident aliens or unfunded excess benefit plans. Compliance Assistance - Provides publications and other materials to assist employers and employee benefit plan practitioners in understanding and complying with the requirements of ERISA as it applies to the administration
of employee pension and welfare benefit plans. Consumer Information on Retirement Plans - Provides fact sheets, booklets, and other retirement plan information from the Department's Employee Benefits Security Administration (EBSA). 20 Questions | By Donnadana335 | Last updated: Mar 22, 2022 | Total Attempts: 60477 Settings Feedback During the Quiz End of Quiz Difficulty Sequential Easy First Hard First This is a quiz with HR test questions. The first one, made in a series of tests made to help me prepare for my human resource management exam. All material was taken from the Human Resource Management Book by David Lepak and Mary Gowan. Why don't you give it a try and let it do the same for you? All the best, and share it with your classmates!
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