Private Pensions Are Subject to Federal Legislation Under

question 108

Multiple Choice

Private pensions are subject to federal legislation under

• A)Employee Retirement Income Security Act (ERISA).
• B)Consolidated Omnibus Budget Reconciliation Act (COBRA).
• C)Tax Equity and Fiscal Responsibility Act (TEFRA).
• D)Retirement Equity Act (REA).

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Definitions:

Retirement

The phase of life where an individual stops full-time work, often accompanied by receiving a pension or retirement benefits.

Optimal Purchasing

The process of buying goods or services in the quantity and timing that minimizes costs and maximizes value to the purchaser.

Indifference Curves

Graphical representations used in economics to show different combinations of two goods that give an individual equal satisfaction and utility.

Budget Constraints

The limits imposed on household choices by income, wealth, and product prices, determining the combination of goods and services they can afford.