What federal agency replaced the Pension and Welfare Benefits Administration?

• A. Department of Labor
• B. Employee Benefits Security Administration
• C. Internal Revenue Service
• D. National Labor Relations Board

Answer: (B)

The concept tested here is which federal agency took over the responsibilities of the Pension and Welfare Benefits Administration. The replacement agency is the Employee Benefits Security Administration, an agency within the Department of Labor. In the early 2000s, the Department reorganized to streamline and strengthen oversight of employee benefit plans under ERISA, renaming PWBA to EBSA to reflect a broader focus on all employee benefit plans, not just pensions and welfare programs. EBSA continues to enforce ERISA, guide plan sponsors, and investigate breaches. The other options aren’t replacements: the Department of Labor is the parent department, the Internal Revenue Service handles tax aspects of plans, and the National Labor Relations Board deals with collective bargaining and workplace relations.