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

Question

Quizplus · Accepted Answer

The Employee Retirement Income Security Act (ERISA) is a federal law enacted in 1974 that sets minimum standards for most voluntarily established pension and health plans in the private sector to provide protection for individuals in these plans. ERISA's main goal is to protect employee retirement income and medical benefits by establishing standard reporting and disclosure requirements, setting minimum funding standards, imposing fiduciary and other responsibilities on those who manage and control plan assets, and providing for appropriate remedies, sanctions, and access to the federal courts.

The ________ Is a Federal Act Designed to Prevent Fraud