Final answer:
The Employee Retirement Income Security Act (ERISA) mandates that employers file an annual report, specifically Form 5500, detailing employee benefits including health insurance, retirement plans, and other legally required benefits.
Step-by-step explanation:
The Employee Retirement Income Security Act (ERISA) requires employers to provide information on employee benefits offered through an annual report. The correct form for this requirement is Form 5500. This form serves as a disclosure document for plan participants and beneficiaries and is also a source of information and data for use by other federal agencies, Congress, and the private sector in assessing employee benefit, tax, and economic trends and policies.
Form 5500 must include details on employee insurance plans such as health benefits, retirement plans, employer contributions to Social Security, and unemployment and worker's compensation insurance, among other benefits like Medicare. The total compensation per hour including wages and benefits can also be part of this report. Employers offering benefits are further mandated under the employer mandate to provide health insurance if they have more than 50 employees and under pension insurance requirements, they must contribute to the Pension Benefit Guarantee Corporation to ensure pension benefits are secured for their workers.