Which act sets minimum standards for retirement and health plans in private industry?

The Retirement Security Act is the correct choice because it specifically addresses minimum standards for retirement and health plans within the private sector. This legislation aims to protect the interests of employee benefit plan participants and their beneficiaries by establishing a range of responsibilities for pension and health plan sponsors. This includes mandates around funding, vesting, and reporting to ensure that workers have access to secure retirement options and health benefits throughout their employment.

In contrast, other acts listed serve different purposes. The Family and Medical Leave Act is designed to allow eligible employees to take unpaid, job-protected leave for certain family and medical reasons. The Worker Adjustment and Retraining Notification Act focuses on requiring employers to provide advance notice of plant closings and mass layoffs, which does not pertain directly to retirement or health plans. The Americans with Disabilities Act prohibits discrimination based on disability and ensures accessibility but does not set standards for retirement and health plans. Thus, the Retirement Security Act stands out for its specific provisions concerning the management of retirement and health benefits in the private sector.