Question :
51.Which of the following statements true about the Pension Benefit : 1243127
51.Which of the following statements is true about the Pension Benefit Guaranty Corporation (PBGC)?
A.It was created by the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985.
B.It guarantees a complete pension benefit replacement.
C.It does not guarantee healthcare benefits.
D.It is not funded by an annual contribution per plan participant.
E.It allows payouts to be adjusted for cost-of-living changes.
52.Which of the following is true about defined contribution plans?
A.They shift the investment risk to the employer.
B.They present greater administrative challenges to employers.
C.They promise a specific benefit level for employees upon retirement.
D.They are preferred more in smaller companies than larger ones.
E.They have become less common.
53._____ plans do not promise a specific benefit level for employees upon retirement.
A.Defined benefit
B.Term benefit
C.Defined contribution
D.Flexi benefit
E.Cash balance
54._____ plans permit employees to defer compensation on a pretax basis.
A.Supplemental benefit
B.Section 401(k)
C.Money purchase
D.Specified retirement benefit
E.Profit sharing
55.Defined contribution plans made it the responsibility of the _____ to make wise investment decisions for their retirement plans.
A.insurance companies
B.employer
C.Pension Benefit Guaranty Corporation (PBGC)
D.employee
E.U.S. Department of Labor
56.Which of the following affects the amount of income that will be available to an employee upon retirement in defined contribution plans?
A.The number of times an employee shifted jobs
B.The number of employees covered in the plan
C.The size of the organization
D.The level of job performance
E.The age at which investments are made
57.The _____ requires defined contribution plans holding publicly traded securities to provide employees with at least three investment options other than employer securities.
A.Pensions Act of 2008
B.Health Insurance Portability and Accountability Act of 1996
C.Consolidated Omnibus Budget Reconciliation Act of 1985
D.Employee Retirement Income Security Act of 1974
E.Pension Protection Act of 2006
58.According to the Employee Retirement Income Security Act (ERISA), the rights of employees to a pension upon retirement are known as _____.
A.vesting rights
B.portability rights
C.transfer rights
D.fiduciary rights
E.funding rights
59.Which of the following is true about vesting rights?
A.It includes the right to a pension prior to retirement age.
B.Employers may choose to vest employees after five years.
C.The right to a pension remains only if the vested employee is with the employer until retirement.
D.Transferring employees as a means of avoiding pension obligations is allowed.
E.Multiemployer pension plans do not take into consideration vesting.
60.Which of the following provides 12 weeks of unpaid absence from work to care for a seriously ill child, spouse, or parent if the organization has at least 50 employees living within a 75-mile radius?
A.Child and Family Services Improvement and Innovation Act
B.Child and Family Services Act
C.Child Support Recovery Act
D.Family and Medical Leave Act
E.Affordable Care Act
