2)The Social Security Act (1935) established a number of crucial programs which still exist today. Describe as completely as you can unemployment insurance and workers compensation. Indicate what each covers and how they are funded. Also, for unemployment insurance, indicate how this operates in Alabama.

3)The Employee Retirement Income Security Act is a very important pension related statute. Define/explain the following concepts which relate to ERISA and pensions in general: vesting, portability, the pension benefit guarantee corporation, defined benefit plan, defined contribution plan. For defined benefit plan and defined contribution plan, indicate which parties (i.e., employer or employee) face which risks associated with each plan.