The Widespread Criticism of How Pension Plans Were Being Administered

question 2

Multiple Choice

The widespread criticism of how pension plans were being administered led to the passage of the __________.

• A) Fair Labor Standards Act (FLSA)
• B) Pension Benefit Guarantee Commission (PBGC)
• C) Social Security Act (SSA)
• D) Employee Retirement Income Security Act (ERISA)

---

Definitions:

Reasonable Effort

The degree of diligence and attention expected under certain circumstances, typically what a reasonable person would do.

Nonconforming Goods

Merchandise that does not meet the specifications or requirements as outlined in a contract.

Not a Merchant

Refers to an individual or entity that does not engage in buying, selling, or trading of goods or services in a particular market, and thus may not be held to certain legal standards applicable to merchants.

Return the Goods

The process of a buyer sending previously purchased products back to the seller, usually under conditions specified in the return policy.