40th anniversary of ERISA legislation
TO THE MEMBERS OF THE UNITED STATES CONGRESS:
This month is the 40th anniversary of landmark benefits legislation, the Employee Retirement
Income Security Act of 1974 (ERISA). Over the years, there have been many changes to the law
and many, many regulations that have refined and reshaped the statute. However, for the
thousands of employers who sponsor retirement plans, there has been a consistent theme -
strengthening the retirement security of American workers.
administrators who deliver retirement benefits to millions of American workers, ask you to join
us in celebrating the passage of this law and the success of the private retirement system that has
been created around it.
The employer–provided retirement system has been overwhelmingly successful in providing
retirement income. In 2011, private-sector employers contributed over $255 billion into their
retirement plans and paid out over $470 billion in retirement benefits. We support the current
system and encourage Congress to maintain the flexibility that allows employers to provide
benefits tailored to their workforce. Depending on the size, industry, and demographics of their
workforce, private-sector employers participate in a wide variety of retirement arrangements:
traditional pension plans, cash balance plans, pension equity plans, profit-sharing plans, 401(k)
and similar plans, money purchase pension plans, 403(b) plans, IRA-based plans, multiemployer
plans, and multiple employer plans. This variety demonstrates the need for flexibility to meet
the needs of various workforces.
In honor of the 40th anniversary of ERISA, we are providing 40 facts about ERISA and the
private employer-provided system as an attachment to this letter.
We are committed to working with Congress and the Executive branch to ensure that ERISA
continues to provide a voluntary and flexible employer-provided retirement plan system that
benefits American workers.
Sincerely
Do not miss THE EVENT: Frankfurt October 23rd
Conference: Employee Financial Participation in Europe and in Germany
Jointly organised by AGP (Bundesverband Mitarbeiterbeteiligung) and IAFP (International Association for Financial Participation)
AGENDA - REGISTER NOW
Interview with Dr. Heinrich Beyer, Managing Director of the German National Centre for Employee Financial Participation – AGP
Heinrich Beyer is committed to the dissemination of employee participation Germany. In the German Federal Government he sees little interest. "Other topics have more priority in Berlin."
From WILHELM HÖLKEMEIER, Südwest Presse 16th May 2014. Translation by AGP.
The Awards Ceremony of the second European Social innovation Competition
This Ceremony took place in Brussels the 20th of May, as a conclusion of a 2 days Social Policy Innovation Conference launched by the DG Enterprise and Industry of the European Commission.
International conference, York, April 2-3 2014
The two day Conference which took place in York on April 2-3, 2014 was organised by the White Rose Employee Ownership Centre, a common creation of the three Universities of York, Leeds and Sheffield.
IAFP was represented by Kevin O’Kelly and Jean-Michel Content, who made a presentation on “Policies and attitudes to financial participation in the EU”.
