Fraudulent practices and other abuses of private pension funds led Congress to enact the

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The Employee Retirement Income Security Act (ERISA) was enacted by Congress in 1974 to address concerns regarding fraud and other abuses in private pension funds. ERISA established minimum standards for retirement plans, including vesting requirements and regulations on funding and disclosure. It also created the Pension Benefit Guaranty Corporation to ensure that employees receive their promised benefits in the event that their employer is unable to fulfill its pension obligations.

Fraudulent Practices and Other Abuses of Private Pension Funds Led