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Your organization offers an employees' retirement benefit program that is covered by the Employee Retirement Income Security Act of 1974. The administrative responsibility for enforcement of the Employee Retirement Income Security Act of 1974 is divided among three government agencies. Which one of the following is not a government agency that helps to enforce ERISA?
Suggested Answer: D
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Answer option D is correct.
Chapter: Risk Management
Objective: Risk Assessment
35 comments · newest first
JU
Justine
10 months ago
Wait, are you sure about the PBGC? I thought they only handle pensions.
JI
Jill
11 months ago
Yup, FDIC is all about banking, not retirement plans.
HI
Hildred
11 months ago
I thought the FDIC was involved in retirement too?
AB
Abel
11 months ago
Definitely not the FDIC!
LA
Lang
11 months ago
The IRS, Department of Labor, and PBGC enforce ERISA.
AS
Ashton
12 months ago
I have a vague memory of the agencies, but I’m confused about the FDIC. I thought it was related to insurance, not retirement plans.
CR
Craig
12 months ago
I practiced a similar question before the exam, and I think the FDIC is primarily focused on banking, so it makes sense that it wouldn't enforce ERISA.
PA
Paulina
12 months ago
I feel like we covered this in class. The IRS, Department of Labor, and PBGC are definitely involved, but I can't recall if the FDIC has any role in ERISA.
LE
Leslie
1 year ago
I remember studying ERISA and the agencies involved, but I'm not entirely sure which one doesn't enforce it. I think the FDIC might be the odd one out?
CR
Cristy
1 year ago
I'm not too familiar with ERISA, so I'll have to guess on this one. The FDIC seems like the odd one out, so I'll go with that.
LE
Leonora
1 year ago
Okay, I've got this. The Department of Labor, IRS, and Pension Benefit Guaranty Corporation all play a role in ERISA enforcement. The FDIC is not one of the agencies, so that's my answer.
ST
Staci
1 year ago
Hmm, I know ERISA is about employee retirement plans, but I'm a little fuzzy on the specific agencies responsible for enforcement. I'll have to think this through carefully.
DE
Delbert
1 year ago
This seems like a straightforward question about ERISA enforcement. I'll review the key government agencies involved and eliminate the one that doesn't fit.
KA
Katina
1 year ago
The FDIC? I bet they're just trying to get in on the action, you know, like a retirement plan bouncer or something. Sorry, but D is the winner here.
VA
Vallie
1 year ago
The FDIC? I guess they're trying to expand their portfolio - from banking to retirement planning. Good luck with that one, guys.
JO
Johnna
1 year ago
The FDIC? What, are they going to guarantee my retirement plan if it goes bust? I don't think so. D is the right answer, no doubt about it.
CL
Claudio
1 year ago
D) FDIC
ME
Merilyn
1 year ago
I agree, the FDIC doesn't have a role in enforcing ERISA.
AD
Adolph
1 year ago
D) FDIC
ES
Esteban
1 year ago
C) Pension Benefit Guaranty Corporation
DA
Dannie
1 year ago
B) Department of Labor
YV
Yvonne
1 year ago
A) IRS
MI
Mignon
1 year ago
The FDIC? That's like asking a plumber to fix your computer. They're completely different agencies. D is the obvious choice here.
KA
Katlyn
1 year ago
D) FDIC
NI
Nicolette
1 year ago
C) Pension Benefit Guaranty Corporation
AD
Adelle
1 year ago
B) Department of Labor
LI
Lisandra
1 year ago
A) IRS
KR
Kristel
1 year ago
The FDIC? Really? I mean, they're great at insuring deposits, but ERISA? That's a stretch. I'm going with D on this one.
TY
Tyisha
1 year ago
Yeah, I'm pretty sure the FDIC is not involved in enforcing ERISA. Department of Labor makes more sense.
NA
Natalie
1 year ago
I think the Department of Labor is the one responsible for enforcing ERISA.
AN
Antonio
1 year ago
I agree, the FDIC seems like an odd choice for enforcing ERISA.
SH
Shelba
1 year ago
Hmm, the FDIC? That's a bank regulator, not an ERISA enforcer. I'm pretty sure it's not involved in ERISA at all.
EM
Emilio
1 year ago
I'm not sure, but I think D) FDIC makes sense because it's not related to retirement benefits.
YA
Yan
1 year ago
I agree with Virgina, FDIC is not one of the agencies that enforce ERISA.
VI
Virgina
2 years ago
I think the answer is D) FDIC.