PracticeQuiz content is free on an ad-supported model.

Unfortunately, we can't support ad blocker usage because of the impact on our servers. If you'd like to continue, please disable your ad blocker and reload page.

Reload page

Paralegal Exam Prep

Category - Legal Envrmt

Start a Study Session Sign up for Question of the Day

Prior to the enactment of ERISA, what was a common vesting schedule under defined benefit pension plans?

Three-year cliff vesting
Six-year graded vesting
No vesting until age 65
Immediate vesting
Vesting after 5 years of service

Explanation

Answer: C. Prior to the enactment of ERISA, no vesting until age 65 was a common vesting schedule under defined benefit pension plans. The result was that many workers that hadmany years of service with a particular company never received pension benefits. ERISA now requires 100% vesting after 6 years of service.

Category: Legal Environment

Previous Next

Was this helpful? Upvote!

Start a Study Session Sign up for Question of the Day

Paralegal Exam Prep

Top questions

Related questions

Most popular on PracticeQuiz

Ad-Blocker not supported

Paralegal Exam Prep

Top questions

Related questions

Most popular on PracticeQuiz