Group Life & AnnuitiesQuestion 105 of 315
Which federal agency has primary responsibility for enforcing ERISA's fiduciary, disclosure, and reporting rules for employer-sponsored benefit plans?
a.The Securities and Exchange Commission (SEC)
b.The Federal Trade Commission (FTC)
c.The Internal Revenue Service (IRS)
d.The U.S. Department of Labor (DOL)
Explanation
ERISA is administered chiefly by the U.S. Department of Labor through its Employee Benefits Security Administration. The IRS handles tax qualification of pensions and the PBGC insures certain defined-benefit pensions, but front-line fiduciary and disclosure enforcement is DOL.
Law Reference: 29 U.S.C. §1001 et seq.Practice all 315 questions free — no signup required.
Related questions on this topic
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- Under Internal Revenue Code Section 79, how much employer-paid group term life coverage on an employee is excluded from the employee's taxable income?
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Sen Lin, PrepPass Founder · Verified against California Life & Health Insurance License Exam · How we review
Reviewed by John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — verify)