The great ETI debate, or whose plan is it anyway?
Article Abstract:
Opposition in Congress to the Department of Labor's Interpretive Bulletin 94-1, providing plan administrator with guidance on making economically targeted investments, has politicized an issue that should be uncontroversial. The Labor Dept stated that considering the interests of society was appropriate in investing plan funds as long as doing so did not compromise beneficiaries' interests by affecting risk-adjusted market rate of return. Congressional Republicans have characterized this move as an effort to use pension assets to further a political agenda.
Publication Name: The Journal of Pension Planning & Compliance
Subject: Human resources and labor relations
ISSN: 0148-2181
Year: 1996
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From then to posterity: ERISA's past, present and future
Article Abstract:
The Employees Retirement Income Security Act (ERISA) was enacted in 1974, during the tumultuous times that impeachment proceedings against Pres Richard Nixon were being initiated. In particular, the bankruptcy of Studebaker Co was the main impetus behind ERISA. This was because the firm closed down with a vastly underfunded pension plan. The enactment of ERISA set minimum standards for pension plans in the country. At the same time, the Internal Revenue Service and the Dept of Labor's dual jurisdiction over ERISA complicated the implementation of the act.
Publication Name: Benefits Quarterly
Subject: Human resources and labor relations
ISSN: 8756-1263
Year: 1999
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ETIs, a scheme for the rescue of city and country with pension funds
Article Abstract:
The House has blocked a move by the Dept of Labor to provide pension plan trustees with guidance for the use of economically targeted investments (ETIs) because legislators believe ETIs violate ERISA rules stating only plan participants can benefit. The Clinton administration is promoting ETIs as a way to use pension funds to benefit society as a whole but guidance is necessary to protect plan participants by allowing investment only in projects with competitive, risk-adjusted rates of return.
Publication Name: The Journal of Pension Planning & Compliance
Subject: Human resources and labor relations
ISSN: 0148-2181
Year: 1997
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