Question

ERISA stands for:

A. Employee Retirement Income Security Act
B. Employer Reporting Insurance Standards Act
C. Employer Required Insurance Security Act
D. Employment Reconciliation Income Standards Act

Answer 1

The Employee Retirement Income Security Act (ERISA) is a federal law that sets standards for pension plans in private industry to protect participants and ensure they receive the benefits they were promised. So, the correct answer is option a.

Step-by-step explanation:

The correct answer is A. Employee Retirement Income Security Act (ERISA) is a federal law that sets standards for pension plans in private industry to protect participants and ensure that they receive the benefits they were promised. ERISA requires employers to provide certain disclosures to employees about their pension plans and establishes the Pension Benefit Guaranty Corporation (PBGC) to protect pension benefits in case of a company's bankruptcy.

The law also imposes reporting and disclosure requirements on employers, plan administrators, and custodians of pension plans. So, the correct answer is option a.