M9:

Question 1

The amount an employee pays on Social Security wages

Answer 1

7.65% on wages up to the Social Security TWB

Question 2

Statute of limitations for asserting a fiduciary claim

Answer 2

3 or 6 years, depending on circumstances

Question 3

How to determine if a severance plan is subject to ERISA

Answer 3

If plan implicates an ongoing administrative scheme

Question 4

Court conclusions on oral severance agreements

Answer 4

Court cases determined this type of agreement can be regulated
by ERISA

Question 5

Daycare centers

Answer 5

A benefit in a plan covered by ERISA

Question 6

Prepaid legal services

Answer 6

A benefit in a plan covered by ERISA

Question 7

Certain church plans

Answer 7

Plans exempt from ERISA

Question 8

Unfunded excess benefit plans

Answer 8

Plans exempt from ERISA

Question 9

ERISA Section 502(c)(1)(B)

Answer 9

Authorizes a court’s ability to impose stiff penalties on plan administrators

Question 10

Penalty amount for violations of Section 502(c)(1)(B)

Answer 10

$1,000 per day (in 2021) ($2,259 with indexing)

Question 11

ERISA defined administrator

Answer 11

A person designated so by terms of the benefit plan

Question 12

The only individuals allowed to recover civil penalties under 502(c)(1]

Answer 12

Participants and beneficiaries

Question 13

Definition of dependents under group health care by the ACA

Answer 13

Biological, stepchild, foster child, adopted child

Question 14

ERISA

Answer 14

Employee Retirement Income Security Act

Question 15

ERISA law supersedes state law

Answer 15

ERISA Preemption

Question 16

Claim is barred by statute of limitations

Answer 16

A standard defense available to defendant plan administrators

Question 17

Purpose of ERISA Section 502(c)(1)

Answer 17

Induces plan administrators to comply & punishes noncompliance

Question 18

Delaye v. Agripac, Inc. 9th Circuit court case

Answer 18

Severance pay over 2 yrs. – no ongoing administrative scheme

Question 19

New 0.9% payroll tax

Answer 19

Taxes on higher levels of employee wages; not on employers