Final answer:
A non-contributory plan mandates 100% participation from all eligible employees, with the employer footing the bill for premiums. Employer mandates often require providing certain benefits like health insurance to employees, especially in larger companies. The Pension Benefit Guarantee Corporation protects a portion of pension funds to secure employees' futures.
Step-by-step explanation:
A non-contributory plan requires 100% participation of all eligible employees. In such plans, the employer pays the full premium and requires that every eligible employee be covered. This is distinct from contributory plans, where employees pay a portion of the premiums and participation rates may vary.
Regarding an employer mandate, this is often a legal requirement for employers—in some jurisdictions, specifically those with more than 50 employees—to offer certain benefits to their employees, such as health insurance. These mandates are designed to ensure that employees receive minimum levels of benefits from their employers.
In the context of pensions, employers adhering to the Pension Benefit Guarantee Corporation guidelines must ensure financial security for their employees' futures by insuring a portion of pension funds against the company's potential bankruptcy and inability to fulfill pension promises.