Jump to ContentJump to Main Navigation
The Employee Retirement Income Security Act of 1974A Political History$
Users without a subscription are not able to see the full content.

James Wooten

Print publication date: 2005

Print ISBN-13: 9780520242739

Published to California Scholarship Online: March 2012

DOI: 10.1525/california/9780520242739.001.0001

Show Summary Details
Page of

PRINTED FROM CALIFORNIA SCHOLARSHIP ONLINE (www.california.universitypressscholarship.com). (c) Copyright University of California Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CALSO for personal use.date: 29 July 2021

“The ‘Bible’ in This Field”

“The ‘Bible’ in This Field”

The President’s Committee on Corporate Pension Funds and the Origins of ERISA

Chapter:
(p.80) 3 “The ‘Bible’ in This Field”
Source:
The Employee Retirement Income Security Act of 1974
Author(s):

James A. Wooten

Publisher:
University of California Press
DOI:10.1525/california/9780520242739.003.0004

Reforms to the Employee Retirement Income Security Act (ERISA) embody a worker-security theory of pensions. This view received its most important early expression in the report of the President’s Committee on Corporate Pension Funds (Cabinet Committee). It became clear that the more stringent rules might apply to corporate plans when the Senate adopted Albert Gore’s (D, Tenn.) amendment to eliminate capital gains treatment for lump-sum distributions from any qualified retirement plan. The goal of the tax subsidy was to encourage firms to provide retirement income to employees. The technical group’s response to the Cabinet Committee’s proposals for expanding coverage and limiting tax avoidance was more ambivalent. Public Policy and Private Pension Programs appeared six months after Vance Hartke introduced his bill to create a termination insurance program and less than four months after Studebaker terminated the pension plan for workers in South Bend.

Keywords:   Employee Retirement Income Security Act, reforms, President’s Committee, Corporate Pension Funds, Albert Gore, Hartke, tax avoidance, pension plan

California Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.