50th Anniversary of ERISA Is Tomorrow

On September 2, 1974, the Employee Retirement Security Act (ERISA) was signed into law. It transformed the rules for qualified retirement plans by setting “minimum standards for most voluntarily established retirement and health plans in private industry to provide protection for individuals in these plans.” It also allowed for the creation of 401(k) plans, IRAs, and the Pension Benefit Guaranty Corporation (PBGC)). The provisions of ERISA are administered by the IRS and the DoL.  #IdeaoftheDay