Chapter

“A New Legislative Era in This Country”

James A. Wooten

in The Employee Retirement Income Security Act of 1974

Published by University of California Press

Published in print January 2005 | ISBN: 9780520242739
Published online March 2012 | e-ISBN: 9780520931398 | DOI: http://dx.doi.org/10.1525/california/9780520242739.003.0005
“A New Legislative Era in This Country”

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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

Chapter.  14751 words. 

Subjects: History of the Americas

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