Fraudulent practices and other abuses of private pension funds led Congress to enact the ________.

Question

Quizplus · Accepted Answer

The Employee Retirement Income Security Act (ERISA) was enacted by Congress in 1974 to protect the retirement assets of Americans. ERISA established minimum standards for private pension plans, including requirements for reporting and disclosure, fiduciary responsibilities, and vesting and funding. ERISA was enacted in response to concerns about fraud and abuse in private pension funds. The other options are not relevant to private pension funds.

Fraudulent Practices and Other Abuses of Private Pension Funds Led