When Piccadilly Cafeterias filed for bankruptcy protection in the fall of 2003, its pension fund did not have enough assets to cover expected future payments. Which law ensures that retirees will receive their pensions as promised?
A) Tax Reform Act of 1986
B) Tax Reform Act of 1997
C) ERISA
D) FMLA
E) Economic Recovery Tax Act

Question

Quizplus · Accepted Answer

The law that ensures that retirees will receive their pensions as promised is ERISA (Employee Retirement Income Security Act), which sets minimum requirements for private pension and welfare plans to protect the interests of participants and their beneficiaries.

When Piccadilly Cafeterias Filed for Bankruptcy Protection in the Fall