Which of the following is true of the Pension Benefit Guarantee Corporation?
A. It was created by the Employee Retirement Income Security Act (ERISA) of 1974.
B. It provides a supplemental income if the employee is temporarily unemployed.
C. It provides employee protection for only defined-benefit pension plans.
D. It is funded by a payroll tax imposed on each plan participant.
E. It guarantees retirees a basic benefit only if the employer is in a sound financial position.
Answer: A. It was created by the Employee Retirement Income Security Act (ERISA) of 1974.
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