Tennessee Insurance Practice Exam 2025 – All-in-One Resource for Exam Success!

The correct answer is church plans because these types of plans are specifically exempt from the Employee Retirement Income Security Act (ERISA) regulations. Church plans are established and maintained by a church or by a convention or association of churches and are intended primarily for the employees of a church or the church's organizations. The exemption exists to allow these plans greater flexibility in their operations without the stringent reporting and disclosure requirements mandated by ERISA, which are designed to protect the interests of participants in employee benefits plans.

In contrast, health insurance plans, 401(k) plans, and pension plans are generally subject to ERISA regulations as they are intended to protect the interests of the employees participating in those plans. Participants in these plans benefit from ERISA's provisions requiring fiduciary duties, proper reporting, and disclosure to ensure their rights and benefits under the plans. Therefore, church plans stand out as a unique category that operates outside the regular framework dictated by ERISA.