South Carolina Life and Health Practice Exam

Disable ads (and more) with a membership for a one time $4.99 payment

Study for the South Carolina Life and Health Exam. Engage with flashcards and multiple choice questions; each question is outlined with hints and explanations. Prepare for your certification journey!

Start Multiple Choice Practice Test
Start Flash Cards

Practice this question and more.

What does ERISA stand for?

  1. Employee Retirement Income Security Act

  2. Employee Resources Investment Security Act

  3. Employment Retirement Insurance Security Act

  4. Employees’ Rights and Investment Security Act

The correct answer is: Employee Retirement Income Security Act

The correct response is rooted in the full name of the federal law, which is the Employee Retirement Income Security Act. ERISA was enacted in 1974 to protect the interests of employee benefit plan participants and their beneficiaries. It establishes minimum standards for pension plans in private industry, helping to ensure that employees receive the benefits that have been promised to them. This law governs various aspects of employer-sponsored retirement plans and health benefits, ensuring accountability and transparency. While the other choices present variations of the ERISA acronym, they do not accurately reflect the legislation's full title or scope of impact. Recognizing the correct title is fundamental to understanding both the specifics of the law and its implications for employee benefits and retirement plans in the United States.

More Questions Like This