[Congressional Record Volume 168, Number 142 (Tuesday, September 6, 2022)]
[Senate]
[Page S4443]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]





   SENATE RESOLUTION 752--COMMEMORATING THE 48TH ANNIVERSARY OF THE 
  SIGNING INTO LAW OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 
    1974, RECOGNIZING THE IMPORTANCE THE EMPLOYEE RETIREMENT INCOME 
SECURITY ACT OF 1974 PLAYS IN PROTECTING THE INTERESTS OF PARTICIPANTS 
IN EMPLOYEE BENEFIT PLANS AND THEIR BENEFICIARIES, AND RECOGNIZING THE 
NEED TO ENCOURAGE MORE WORKERS TO PARTICIPATE IN SUCH PLANS TO SAVE FOR 
                            THEIR RETIREMENT

  Mrs. MURRAY submitted the following resolution; which was referred to 
the Committee on Health, Education, Labor, and Pensions:

                              S. Res. 752

       Whereas September 2, 2022, marks the 48th anniversary of 
     the signing into law of the Employee Retirement Income 
     Security Act of 1974 (29 U.S.C. 1001 et seq.) (referred to in 
     this preamble as ``ERISA'');
       Whereas the purpose of ERISA is to protect the interests of 
     participants in employee benefit plans and their 
     beneficiaries;
       Whereas, since ERISA became law, the number of employee 
     benefit plans has nearly tripled from approximately 300,000 
     in 1974 to 730,000 in 2019;
       Whereas, during that same time period, the number of 
     participants in employee benefit plans has increased more 
     than 200 percent from approximately 45,000,000 in 1974 to 
     142,000,000 in 2019;
       Whereas employee benefit plans under ERISA continue to be 
     an important factor affecting the stability of employment and 
     the well-being and financial security of millions of workers 
     and their dependents;
       Whereas, despite the enormous growth in employee benefit 
     plans, only 56 percent of workers participate in such plans;
       Whereas Congress is working to pass comprehensive 
     retirement legislation to encourage more employers to offer 
     robust employee benefit plans and help more workers to 
     participate in such plans; and
       Whereas ERISA will play a critical role in protecting these 
     additional participants and their beneficiaries: Now, 
     therefore, be it
       Resolved, That the Senate--
       (1) recognizes the importance the Employee Retirement 
     Income Security Act of 1974 (29 U.S.C. 1001 et seq.) plays in 
     protecting the interests of participants in employee benefit 
     plans and their beneficiaries; and
       (2) recognizes the work that still remains to be done to 
     encourage more workers to participate in such plans to save 
     for their retirement.

                          ____________________