Certified Payroll Professional Practice Exam

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Which act was established to protect retirees' rights and financial security?

  1. Affordable Care Act

  2. Civil Rights Act

  3. Employee Retirement Income Security Act

  4. Family and Medical Leave Act

The correct answer is: Employee Retirement Income Security Act

The correct answer is Employee Retirement Income Security Act (ERISA). ERISA was established to protect retirees' rights and financial security by setting minimum standards for pension plans in the private industry. It ensures that employees who participate in these plans receive the benefits they have earned and provides guidelines for the management of these plans to protect the interests of the participants. The other options are incorrect because: A. The Affordable Care Act focuses on healthcare reform, not retirees' financial security. B. The Civil Rights Act prohibits discrimination based on race, color, religion, sex, or national origin in employment and other areas, but it does not specifically address retirees' rights. D. The Family and Medical Leave Act allows eligible employees to take unpaid, job-protected leave for specific family and medical reasons but does not directly pertain to retirees' rights and financial security.

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