The ________ is a federal act designed to prevent fraud and other abuses associated with private pension funds.

Question

Quizplus · Accepted Answer

ERISA stands for Employee Retirement Income Security Act and is a federal act passed in 1974. ERISA is designed to protect the interests of participants in private pension plans and employee benefit plans. It sets standards for the management and operation of private pension plans to ensure they are administered in a fair and financially sound manner. ERISA also establishes fiduciary responsibilities for those who manage and control pension plan assets.

The ________ Is a Federal Act Designed to Prevent Fraud