The two main features of the Employee Retirement Income Security Act (ERISA)-the imposition of standards for fiduciary conduct and responsibility and the setting of minimum standards for pension plan requirements-have different bases for their coverage.

Question

The two main features of the Employee Retirement Income Security Act (ERISA)-the  imposition of standards for fiduciary conduct and responsibility and the setting of minimum  standards for pension plan requirements-have different bases for their coverage.

Quizplus · Accepted Answer

ERISA's fiduciary standards apply broadly to all types of employee benefit plans, including both pension and welfare plans, focusing on the behavior and obligations of plan managers. In contrast, its minimum standards for pension plans specifically target the establishment, operation, and funding of pension plans, thus having a different scope and basis for coverage.

The Two Main Features of the Employee Retirement Income Security