The retirement industry is gathered in the nation’s capital this week to celebrate the 50th anniversary of the Employee Income Retirement Income Security Act (ERISA), signed into law on Sept. 2, 1974 by President Gerald Ford after sailing through Congress with near unanimous bipartisan support.
Organizers of the ERISA 50th Anniversary Symposium and Gala announced today that the symposium will be live streamed for interested parties that are unable to attend in person.
The symposium, scheduled to take place on Thursday, September 12, will begin with introductory remarks at 9:30 a.m. EDT followed by five panels of ERISA experts that will run throughout the day. Panelists are expected to discuss the historical context and significance of ERISA’s enactment as well as major milestones and pivotal changes over the past five decades—including passage of the Pension Protection Act, the SECURE Act, SECURE 2.0 and the Department of Labor’s fiduciary rulemaking efforts.
Often referred to as “the most important law nobody’s ever heard of,” ERISA provides the foundational protection for workers’ retirement savings, ensuring transparency and accountability in the management of pensions and defined contribution retirement plans. ERISA established fiduciary duties for those managing workplace retirement plans, mandating that fiduciaries act in the best interest of plan participants and beneficiaries.
ERISA’s significance in safeguarding the retirement and health and welfare benefits of American workers cannot be overstated. The ERISA 50th Anniversary Symposium and Gala will celebrate this landmark legislation and serve as a platform for professionals, legal experts, government representatives, and stakeholders to come together to reflect on the achievements and impact of ERISA over the past 50 years. It will also provide a forum for discussing the current challenges faced by employee benefit plans, addressing emerging trends, and identifying opportunities for improvement.
The live symposium can be accessed virtually beginning at 9:30 a.m. ET at this link: https://vimeo.com/event/4560992/49deeef6d5.
The symposium agenda includes:
• 9:35-10:30: Building on the Foundation of ERISA: Insights from Legislative & Regulatory Architectswith panelists Phyllis Borzi and Preston Rutledge, both former Former Assistant Secretaries at the Department of Labor; and Max Baucus, Former Senator (D-MT) and U.S. Ambassador.
• 10:40-11:35: Recent Political, Societal and Policy Changes Impacting ERISA and Employee Benefit Plans, with panelists Chris Jennings, President, Jennings Policy Strategies; Jeanne Lambrew, Director of Health Care Reform, The Century Foundation; and Avik Roy, President, Foundation for Research on Equal Opportunity.
• 11:35-12:05: Presentation of ERISA 50th Research Project, with panelists Sudipto Banerjee, Ph.D., Director of Retirement Thought Leadership. T. Rowe Price and Ali Haffner, Associate General Counsel Senior – Employee Benefits & Executive Compensation, Elevance Health.
• 1:30-2:25: Adapting ERISA: Navigating Technological, Economic, and Workforce Changes, with panelists Gopi Shah Goda, Senior Fellow at the Stanford Institute for Economic Policy Research; Brigitte Madrian, Dean and Marriott Distinguished Professor, Brigham Young University Marriott School of Business; and Dallas Salisbury, President Emeritus, Retired CEO, Employee Benefit Research Institute.
• 2:30-3:25: The Future of Work: How ERISA’s Evolution Can Support a Changing Workforce with panelists Joseph F. Coughlin, Director, MIT AgeLab; Richard Jackson, President & Founder, Global Aging Institute; and Jennifer Yarrish, Director, Enterprise Strategy, AARP.
Black tie gala Thursday night
Thursday night features an exclusive formal ERISA 50th Gala at the National Building Museum reflecting on and celebrating the law’s 50 years.
The Gala features Senator Ron Wyden, (D-OR), Chairman of the Senate Finance Committee, as the Guest of Honor and Douglas Brinkley, U.S. Presidential Historian and New York Times best-selling author, as the guest speaker.
ERISA 50th host organizations include AARP; American Benefits Council; American Council of Life Insurers; AHIP; American Retirement Association; Blue Cross Blue Shield Association; Defined Contribution Institutional Investment Association; The ERISA Industry Committee; Investment Company Institute; The SPARK Institute; and the U.S. Chamber of Commerce.
Keep up with Thursday’s happenings by following the hashtag #ERISA50 on LinkedIn and X or by visiting www.erisa50.org.
SEE ALSO:
• Fiduciary Rule Update and ERISA at 50 with Lathrop GPM’s Allie Itami
• ERISA at 50: Retirement Industry Converging to Celebrate in 2024
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.