The ERISA Act Requires All of the Following Except

question 6

Multiple Choice

The ERISA Act requires all of the following except:

• A)All employees who have worked for more than one year and are over 21 years of age must be offered participation in any company-sponsored retirement plans.
• B)Federal vesting rules must be followed,with a maximum vesting period of 100% at five years,or 20% per year from years 3 through 7.
• C)Employee retirement accounts must be portable.When the employee changes jobs,their retirement funds can be transferred to their new employer or another qualified investment.
• D)Fiduciaries who manage company retirement programs must act under the prudent man concept that says they should use care and diligence when investing retirement funds.
• E)All employers must provide some form of employee retirement system for employees who are over the age of 21 and who request retirement accounts.

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Definitions:

Prospective Studies

Longitudinal studies that begin with a disease-free group of subjects and follow the occurrence of disease in that population or sample.

Retrospective Studies

Longitudinal studies that look back at the history of a population or sample.

Correlational Studies

Research methods that examine the relationship between two or more variables without manipulating them.

Longitudinal Study

A research design that involves repeated observations of the same variables (e.g., people) over short or long periods of time.