Talking Points: ERISA—Still ‘Nifty’ at 50
Source: National Association of Plan Advisors Aug. 27, 2024, by Nevin E. Adams, JD
I’ve long relished telling “newbies” to the retirement space that ERISA was the second big executive act of then-newly enshrined President Gerald R. Ford—less than one month after he took office.
In fairness—and I’m not exactly a kid—I was barely out of high school when that event occurred. I’ve never had a benefits program (retirement OR healthcare, and us retirement geeks tend to forget that ERISA also has sway over workplace health plans) that wasn’t operating under its auspices—and so, talking about what ERISA has done/changed requires going back before my personal experience. And yet, despite the disparaging acronym “Every Ridiculous Idea Since Adam,” what ERISA has accomplished—and what has emerged in its aftermath—seems truly remarkable to me.
ERISA is, of course, the Employee Retirement Income Security Act of 1974—and on Labor Day 2024, that legislation will be 50 years young. Follow link to read more. https://www.napa-net.org/news-info/daily-news/talking-points-erisa%E2%80%94still-%E2%80%98nifty%E2%80%99-50