Franklin

The Employee Retirement Income Security Act of 1974 : A Political History / James Wooten.

Author/Creator:
Wooten, James, author., Author,
Publication:
Berkeley, CA : University of California Press, [2005]
Series:
California/Milbank books on health and the public ; 11.
California/Milbank Books on Health and the Public ; 11
Format/Description:
Book
1 online resource (433 p.)
Subjects:
Pension trusts -- United States -- History.
Pension trusts -- Law and legislation -- United States -- History.
United States. Employment Retirement Income Security Act of 1974 -- History.
Form/Genre:
Electronic books.
Language:
English
Summary:
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.
Contents:
Frontmatter
Contents
Tables
Foreword
Acknowledgments
Introduction: "A Minor Miracle"
1. Policy-Making for Private Pensions
2. "The Most Glorious Story of Failure in the Business"
3. "The 'Bible' in This Field"
4. "A New Legislative Era in This Country"
5. "A Major American Institution . . . Built upon Human Disappointment"
6. A Green Light in the Senate
7. A Donnybrook in the House
8. Enacting ERISA
Epilogue
Notes
Index
Notes:
Description based upon print version of record.
Includes bibliographical references (p. 293-399) and index.
Description based on online resource; title from PDF title page (publisher's Web site, viewed 24. Apr 2020)
Contributor:
Milbank Memorial Fund.
ISBN:
1-282-35757-3
9786612357572
0-520-93139-4
OCLC:
609850149
Publisher Number:
10.1525/9780520931398 doi
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