At a minimum, how often should an administrator furnish a statement of total benefits accrued and accrued benefits that are vested under ERISA?

a. Once in 12 month period

b. Once in 9 month period

c. Every month

d. Once in 6 month period

a. Once in 12 month period

Explanation:

ERISA is a famous act which was brought forward in 1974. The Employee Retirement Income Security Act (ERISA) was brought forth with an intention of making sure that the interests of the employed and their beneficiaries are taken care of. It also makes sure that whatever was promised by employers to employees have been given have been given to them. The act states that at a minimum, an administrator can furnish a statement of total benefits accrued and accrued benefits that are vested under ERISA once in 12 months period. The correct answer is A.

The correct answer is (A)

Explanation:

(ERISA) is an employee retirement income security act of 1974, which is used to set a minimum standard of retirement and health plans. According to the policy of (ERISA), the benefits incurred and accrued benefits are visited every year to examine what changes are required and how to proceed further to achieve the objectives.