Which of the Following Is Not True of the Employee

question 30

Multiple Choice

Which of the following is not true of the Employee Retirement Income Security Act (ERISA) ?

• A)It sets standards of conduct and responsibility upon pension fund fiduciaries.
• B)It applies to plans maintained solely for the purpose of complying with state workers'  compensation.
• C)It requires pension plan administrators to disclose relevant financial information to  employees and the government.
• D)It provides legal remedies to employees and their beneficiaries in the event of violations.

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Definitions:

Unsecured Creditors

Creditors who have loaned money without obtaining specific collateral, meaning they have no special claim to the borrower's assets if the borrower fails to pay.

Bankruptcy Discharge

The legal process that releases a debtor from personal liability for certain specified types of debts, effectively wiping the slate clean.

Bankruptcy Law

A legal framework governing the process by which individuals or entities unable to meet their financial obligations can seek relief from some or all of their debts.

Fraudulent Conveyance

The transfer of property with the intent to obstruct, delay, or defraud creditors.