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Exam (elaborations)

CPFA 1 Study Guide.

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  • Course
  • CPFA - Certified Public Finance Administrator
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  • CPFA - Certified Public Finance Administrator

Employee Retirement Income Security Act (ERISA) - Established 1974 ERISA was passed to establish - A set of federally-regulated provisions with the primary purpose of protecting participants and beneficiaries ERISA had the important function of - Pre-empting the pa...

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  • August 7, 2023
  • 3
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
  • CPFA - Certified Public Finance Administrator
  • CPFA - Certified Public Finance Administrator
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CPFA 1 Study Guide
Employee Retirement Income Security Act (ERISA) - ✔ Established 1974
ERISA was passed to establish - ✔ A set of federally-regulated provisions with the primary purpose of protecting participants and beneficiaries
ERISA had the important function of - ✔ Pre-empting the patchwork of state fiduciary laws
Before ERISA - ✔ Workers had no legal rights to their benefits
Before ERISA benefits were - ✔ Seen as a reward for those who were loyal to a company their entire career
ERISA established when an employee - ✔ Is allowed to participate in a plan
How long an employee be required to wait before being entitled to benefits
How much & how often an employer must contribute to the plan
What information about the plan must be disclosed to participants Rules of conduct for those administering the plan and it assets
Avenues for enforcing qualified plan rules
ERISA provisions are overseen by - ✔ DOL & IRS
ERISA established two important concepts -

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