CBP Benefits Compliance and Regulations 1 — Questions and Answers
Question 1: Which agency is primarily responsible for enforcing ERISA's reporting and disclosure requirements for employee benefit plans?
- IRS
- SEC
- Department of Labor (DOL) (Correct answer)
- EEOC
Correct answer: Department of Labor (DOL)
The Department of Labor's Employee Benefits Security Administration (EBSA) oversees ERISA's reporting, disclosure, and fiduciary requirements for private-sector benefit plans.
Question 2: The Family and Medical Leave Act (FMLA) requires covered employers to provide eligible employees with up to how many weeks of unpaid leave per year?
- 6 weeks
- 10 weeks
- 12 weeks (Correct answer)
- 16 weeks
Correct answer: 12 weeks
FMLA entitles eligible employees at covered employers to take up to 12 weeks of unpaid, job-protected leave per year for qualifying family and medical reasons.
Question 3: Under HIPAA's privacy rule, what is the minimum necessary standard?
- Sharing only the minimum PHI needed to accomplish a permitted purpose (Correct answer)
- Storing PHI on secure servers with minimum encryption
- Providing employees minimum notice of privacy practices
- Collecting only minimum health data during benefits enrollment
Correct answer: Sharing only the minimum PHI needed to accomplish a permitted purpose
HIPAA's minimum necessary standard requires covered entities to make reasonable efforts to use, disclose, and request only the minimum amount of protected health information needed for a particular purpose.
Question 4: Which law prohibits employment discrimination based on genetic information, including in employee benefits?
- ADA
- HIPAA
- GINA (Correct answer)
- Title VII
Correct answer: GINA
The Genetic Information Nondiscrimination Act (GINA) prohibits employers from using genetic information in employment decisions and from requesting genetic information for benefit eligibility.
Question 5: Under the ACA's employer mandate, what is the affordability threshold for 2024 based on employee-only premium cost relative to household income?
- 8.39% (Correct answer)
- 9.12%
- 9.02%
- 8.73%
Correct answer: 8.39%
For 2024, a plan is considered affordable under the ACA employer mandate if the employee's share of the self-only premium does not exceed 8.39% of their household income.
Question 6: Which IRS section governs non-qualified deferred compensation plans and imposes strict distribution timing and election rules?
- Section 401(a)
- Section 409A (Correct answer)
- Section 457(b)
- Section 415
Correct answer: Section 409A
IRC Section 409A governs non-qualified deferred compensation plans and requires strict adherence to election, timing, and distribution rules to avoid penalties.
CBP Benefits Compliance and Regulations 1
Which agency is primarily responsible for enforcing ERISA's reporting and disclosure requirements for employee benefit plans?