50 Years of ERISA and how Studebaker and Avanti was involved in its creation

[lschuc]

 

This year marks the 50th anniversary of the passage of ERISA — the Employee Retirement Income Security Act — which regulates and safeguards workers enrolled in private pension plans. Before 1974, private company pension plans, which date back to the late 19th and early 20th centuries, were informally administered, had little oversight or requirements, had no controls and were targets for corruption.

It took several high-profile pension failures and inadequacies to spur the law that now protects the more than 75% of workers enrolled in company pension plans. That’s where the Avanti and form South Bend UAW Local 5 Lester Fox enter the picture.

 

https://insurancenewsnet.com/innarticle/50-years-of-erisa

[mfg]

Very important!… As a former union steward I say BRAVO ERISA!!!!

[Mark63Avanti]

Yes to ERISA, another positive government program, protecting the little guy. A lot of people at Studebaker didn't just lose their jobs....