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Let’s put ‘income’ back in ERISA

Forty years after the passage of the Employee Retirement Income Security Act - ERISA it seems like we are far removed from the issues it attempted to address.

By Greg Carpenter | Updated on November 14, 2014

Forty years after the passage of the Employee Retirement Income Security Act – ERISA – it seems like we are far removed from the issues it attempted to address. 

In 1974, 40% of private sector employees were covered by employer-sponsored defined benefit pension plans. These DB plans provided workers with a lifetime income annuity upon retirement. These plans provided a high level of income security – if the employer met funding requirements. 

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