Regulating Private Pensions (CRS Report for Congress)
| Release Date |
Revised Jan. 15, 2005 |
| Report Number |
95-926 |
| Authors |
Frank Purcell, Domestic Social Policy Division |
| Source Agency |
Congressional Research Service |
| Older Revisions |
-
Premium Jan. 15, 2004 (2 pages, $24.95)
add
|
Summary:
The Employee Retirement Income Security Act of 1974 (ERISA, P.L. 93-406 ) protects
the interests
of participants and beneficiaries in private-sector employee benefit plans. It was passed in response
to instances in which employers had failed to prudently manage pension funds, had terminated
pension plans without sufficient assets to pay the benefits employees had earned, or had created
impediments to earning a pension, such as onerous age and service requirements. ERISA covers a
number of fringe benefits provided by employers, but most of its provisions deal with pension plans.
Pension plans sponsored by the federal, state, and local governments, or by churches generally are
exempt from ERISA. (This report will be updated for amendments to ERISA.)
