Question

What legislative act controls the operation and administration of employee welfare and pension plans?  

Answer 1

Legislative act that control the operation and administration of employee welfare and pension plans in US are as follows :

- Pension plans

- A pension plan is an employee advantage plan built up or kept up by a business or by an employee association or both, that gives retirement benefits or concedes pay until end of secured work or past. There are various sorts of retirement plans, including the 401(k) plan and the customary pension plan, known as a defined advantage plan. In defined benefit plan the benefits are guarantted to the members.

- The Employee Benefits Security Administration of the Department of Labor is liable for overseeing and upholding the arrangements of Employee Retirement Income Security Act.

- most private part pension plans are covered by ERISA

- The U.S. Department of Labor regulates and implements in excess of 180 government laws. These ruels , laws and the guidelines that actualize them spread numerous work environment exercises for around 150 million laborers and 10 million working organisaitons in the US. All the welfare laws are governed by the US department of the labor.