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Posted in Department of Labor, Health Care
On Labor Day fifty years ago, September 2, 1974, President Ford signed the Employee Retirement Income Security Act of 1974 (ERISA) into law. It is a combination of tax and labor law incorporating trust law like fiduciary standards with respect to pensions and health benefits.
Brought about after pension defaults from companies like Studebaker, ERISA has been steadily and consistently amended to accommodate new benefit structures and realities. The acronyms of these updates may be familiar to many: COBRA, HIPAA, ACA, and SECURE.[1] These are complimented by alphabet soup of ...
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