Happy 50th Birthday, ERISA!. When ERISA was enactedin 1974, it provided new federal protections for plan participants. These protections have increased over the years, and spouses have gained greater rights. There have also been changes not foreseen by ERISA’s drafters such as the decline of single employer defined benefit plans. Though much progress has been made, this is also an appropriate time to consider where ERISA has fallen short.

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