The Employment Retirement Income Security Act (ERISA), enacted in 1974, established critical protections for employee retirement benefits by imposing funding requirements, defining eligibility rules, and mandating fiduciary standards that require employers to act exclusively in participants' interests.
Nearly five decades after its implementation, the landscape of retirement planning has dramatically transformed, raising questions about whether ERISA needs clear updates to address modern workforce needs.
Yahoo Finance reporter Kerry Hannon explores the act's current provisions and what potential updates are needed to better support retirees in today's financial environment.
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This post was written by Angel Smith