To deal with difficulties in administering pension funds, Congress in 1974 passed the

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The Employee Retirement Income Security Act (ERISA) was passed in 1974 to address issues related to pension fund administration and provide guidelines for the management of employee pension plans. It established certain standards for fiduciaries, imposed reporting and disclosure requirements, and created the Pension Benefit Guaranty Corporation to insure certain pension benefits. The other options, such as the Corrupt Pension Fund Reform Act or Securities and Exchange Act, do not address pension fund administration specifically. The Social Security Act is focused on providing social insurance and does not deal with private pension plans.

To Deal with Difficulties in Administering Pension Funds, Congress in 1974