Title: A resolution commemorating the 48th anniversary of the signing into law of the Employee Retirement Income Security Act of 1974, recognizing the importance the Employee Retirement Income Security Act of 1974 plays in protecting the interests of participants in employee benefit plans and their beneficiaries, and recognizing the need to encourage more workers to participate in such plans to save for their retirement.
Policy area: Labor and Employment

Summary:
This resolution recognizes the importance the Employee Retirement Income Security Act of 1974 plays in protecting the interests of participants in employee benefit plans and their beneficiaries.

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 752 Introduced in Senate (IS)]

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117th CONGRESS
  2d Session
S. RES. 752

   Commemorating the 48th anniversary of the signing into law of the 
   Employee Retirement Income Security Act of 1974, recognizing the 
importance the Employee Retirement Income Security Act of 1974 plays in 
protecting the interests of participants in employee benefit plans and 
their beneficiaries, and recognizing the need to encourage more workers 
       to participate in such plans to save for their retirement.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 6, 2022

 Mrs. Murray submitted the following resolution; which was referred to 
        the Committee on Health, Education, Labor, and Pensions

_______________________________________________________________________

                               RESOLUTION


 
   Commemorating the 48th anniversary of the signing into law of the 
   Employee Retirement Income Security Act of 1974, recognizing the 
importance the Employee Retirement Income Security Act of 1974 plays in 
protecting the interests of participants in employee benefit plans and 
their beneficiaries, and recognizing the need to encourage more workers 
       to participate in such plans to save for their retirement.

Whereas September 2, 2022, marks the 48th anniversary of the signing into law of 
        the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1001 et 
        seq.) (referred to in this preamble as ``ERISA'');
Whereas the purpose of ERISA is to protect the interests of participants in 
        employee benefit plans and their beneficiaries;
Whereas, since ERISA became law, the number of employee benefit plans has nearly 
        tripled from approximately 300,000 in 1974 to 730,000 in 2019;
Whereas, during that same time period, the number of participants in employee 
        benefit plans has increased more than 200 percent from approximately 
        45,000,000 in 1974 to 142,000,000 in 2019;
Whereas employee benefit plans under ERISA continue to be an important factor 
        affecting the stability of employment and the well-being and financial 
        security of millions of workers and their dependents;
Whereas, despite the enormous growth in employee benefit plans, only 56 percent 
        of workers participate in such plans;
Whereas Congress is working to pass comprehensive retirement legislation to 
        encourage more employers to offer robust employee benefit plans and help 
        more workers to participate in such plans; and
Whereas ERISA will play a critical role in protecting these additional 
        participants and their beneficiaries: Now, therefore, be it
    Resolved, That the Senate--
            (1) recognizes the importance the Employee Retirement 
        Income Security Act of 1974 (29 U.S.C. 1001 et seq.) plays in 
        protecting the interests of participants in employee benefit 
        plans and their beneficiaries; and
            (2) recognizes the work that still remains to be done to 
        encourage more workers to participate in such plans to save for 
        their retirement.
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