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The Employee Retirement Income Security Act of 1974A Political History$
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James Wooten

Print publication date: 2005

Print ISBN-13: 9780520242739

Published to California Scholarship Online: March 2012

DOI: 10.1525/california/9780520242739.001.0001

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“A New Legislative Era in This Country”

“A New Legislative Era in This Country”

Pension Reform from Blueprint to Bill

Chapter:
(p.116) 4 “A New Legislative Era in This Country”
Source:
The Employee Retirement Income Security Act of 1974
Author(s):

James A. Wooten

Publisher:
University of California Press
DOI:10.1525/california/9780520242739.003.0005

The Cabinet Committee resolved to prepare legislation with or without private-sector assistance. Its aggressive tactics were a great success. In the course of drafting a bill, the members of the Cabinet Committee and their staff aides concluded that pension reform legislation would not achieve its employee-protective goals unless it included minimum vesting and funding standards and a termination-insurance program. An insurance industry official stated that there was “no danger of rash pension laws.” The particular provisions of Jacob Javits’ bill were less important than its scope and its referral to the Senate Committee on Labor and Public Welfare. Charles Trowbridge worried about “internecine warfare within business groups.” In 1969, there would be fewer “government people” in the executive branch for whom a comprehensive pension reform bill was a priority. As a result, the initiative on pension reform shifted from the executive branch to Congress.

Keywords:   pension reform bill, Cabinet Committee, legislation, pension laws, Jacob Javits, Labor and Public Welfare

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