Download or read book The Employee Retirement Income Security Act of 1974 written by James Wooten and published by Univ of California Press. This book was released on 2005-01-24 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study of the Employee Retirement Income Security Act of 1974 (ERISA) explains in detail how public officials in the executive branch and Congress overcame strong opposition from business and organized labor to pass landmark legislation regulating employer-sponsored retirement and health plans. Before Congress passed ERISA, federal law gave employers and unions great discretion in the design and operation of employee benefit plans. Most importantly, firms and unions could and often did establish pension plans that placed employees at great risk for not receiving any retirement benefits. In the early 1960s, officials in the executive branch proposed a number of regulatory initiatives to protect employees, but business groups and most labor unions objected to the key proposals. Faced with opposition from powerful interest groups, legislative entrepreneurs in Congress, chiefly New York Republican senator Jacob K. Javits, took the case for pension reform directly to voters by publicizing frightening statistics and "horror stories" about pension plans. This deft and successful effort to mobilize the media and public opinion overwhelmed the business community and organized labor and persuaded Javits's colleagues in Congress to support comprehensive pension reform legislation. The enactment of ERISA in September 1974 recast federal policy for private pension plans by making worker security an overriding objective of federal law.
Download or read book Employee Retirement Income Security Act written by United States. Department of Labor and published by . This book was released on 1978 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Employee Retirement Income Security Act written by United States. Department of Labor and published by . This book was released on 1976 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Legislative History of the Employee Retirement Income Security Act of 1974 written by United States and published by . This book was released on 1976 with total page 1682 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Administration of the Employee Retirement Income Security Act written by United States. Labor-Management Service Administration. Office of Employee Benefits Security and published by . This book was released on with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pension Security Act of 2003 written by United States. Congress. House. Committee on Education and the Workforce and published by . This book was released on 2003 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Pension Security Act written by United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Employer-Employee Relations and published by . This book was released on 2003 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Retirement Security written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-07-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Employee Retirement Income Security Act (ERISA) established minimum standards and requirements governing the design and operation of private pension plans. Responsibilities for carrying out the Act are assigned to the Department of Labor, the Internal Revenue Service, and the Pension Benefit Guaranty Corporation. As of mid-1977, 471,341 (93 percent) of the private pension plans had fewer than 100 participants. About 18 percent of the plans had terminated, and 82 percent continued. In order to meet ERISA's participation and vesting standards, almost all of the defined benefit and defined contribution plans had to be revised, and about 58 percent of the Keogh plans required revision. Employers spent over $500 million in administrative costs resulting from the Act; about 67 percent of these costs were one-time costs for revising the plans to meet the Act's requirements, and about 33 percent were increased annual administrative costs. Some of the annual reporting requirements have been eliminated in order to reduce the administrative costs of the pension plans.
Download or read book The Employee Retirement Income Security Act written by United States. Commission on Federal Paperwork and published by . This book was released on 1977 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Legislative History of the Employee Retirement Income Security Act of 1974 written by and published by . This book was released on 1976 with total page 1868 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Retirement Security written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-07-01 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Employee Retirement Income Security Act (ERISA) requires private pension plans to meet extensive, complex minimum standards and reporting and disclosure requirements. Concerns were expressed about ERISA effects on small businesses and their employees and the increase in pension plan terminations after enactment of the legislation. The act did contribute to a large degree to pension plan terminations, but economic and other factors played a more significant role. The adverse effect on workers indicated by the number of terminations is misleading because: (1) in terminations of plans attributed to ERISA, the plans generally did not meet the act's minimum participation and vesting requirements; (2) participants of terminated plans had received or were to receive almost all of their vested benefits under existing plan provisions; and (3) about 41 percent of the sponsors of terminating plans continued pension coverage for their employees through other plans. According to plan sponsors, major factors contributing to termination were the increased costs of providing benefits and revising and administering plans, the burden of meeting reporting and disclosure requirements, the need for clarifying regulations, and concern about penalties. The increased costs and provisions for compliance and reporting are necessary to ensure employees' rights to receive adequate benefits. Agencies involved have made progress in providing guidelines for meeting requirements and have reduced the reporting and disclosure burden. Agencies should continue such efforts, consistent with the protection of participants.
Download or read book Administration of the Employee Retirement Income Security Act written by United States. Department of Labor and published by . This book was released on 1975 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Often asked Questions about the Employee Retirement Income Security Act ERISA written by United States. Labor-Management Services Administration. Pension and Welfare Benefit Programs and published by . This book was released on 1979 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Effect of the Employee Retirement Income Security Act on the Termination of Single Employer Defined Benefit Pension Plans written by United States. General Accounting Office and published by . This book was released on 1978 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Effects of the Employee Retirement Income Security Act on Pension Plans with Fewer Than 100 Participants written by United States. General Accounting Office and published by . This book was released on 1979 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pension Security Act of 2002 written by United States. Congress. House. Committee on Education and the Workforce and published by . This book was released on 2002 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book What You Should Know about the Pension and Welfare Law written by United States. Labor-Management Services Administration. Pension and Welfare Benefit Programs and published by . This book was released on 1978 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
