The Employee Retirement Income Security Act of 1974: A Political History (California/Milbank Books on Health and the Public)

Amazon.com Price: $85.00 (as of 08/05/2019 16:58 PST- Details)

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This study of the Employee Retirement Source of revenue Security Act of 1974 (ERISA) explains in detail how public officials Within 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 Within the design and operation of employee benefit plans. Such a lot importantly, firms and unions could and ceaselessly did establish pension plans that placed employees at great risk for now not receiving any retirement benefits. Within the early 1960s, officials Within the executive branch proposed a variety of regulatory initiatives to give protection to employees, but business groups and Such a lot labor unions objected to the important thing 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 straight away 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 strengthen 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.

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The Employee Retirement Income Security Act of 1974: A Political History (California/Milbank Books on Health and the Public)

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