Final answer:
The statement that employers must provide retirement plans by federal law is false. Employers may offer retirement plans such as 401(k)s voluntarily, and those offering pensions are required to insure them through the Pension Benefit Guarantee Corporation.
Step-by-step explanation:
By federal law, employers are not required to provide retirement plans for their employees, which makes the correct answer B. False. While many employers choose to offer retirement plans like 401(k)s and 403(b)s, these are defined contribution plans where employers may contribute a fixed amount to the worker's retirement account on a regular basis, but they are not mandated by federal law to do so. It is important to note that for employers that do offer pensions, there are federally mandated insurance payments into the Pension Benefit Guarantee Corporation to protect workers' pensions in case of company bankruptcy. As of my last knowledge update in January 2022, there is no federal law in the United States that mandates employers to provide retirement plans for their employees. Participation in retirement plans is generally voluntary for employers, although there are tax incentives and regulations designed to encourage employers to offer such plans. Employers who choose to provide retirement plans often do so through options like 401(k) plans, pension plans, or other retirement savings programs. The regulations and requirements for these plans are governed by the Employee Retirement Income Security Act (ERISA) at the federal level. It's important to note that laws and regulations can change, so it's advisable to check for any updates or changes in legislation after my last update in January 2022. If you have a specific jurisdiction in mind, you may want to consult the most recent legal information for that area.