WASHINGTON, January 12, 2024 – The ERISA Industry Committee (ERIC) today announced its public policy priorities for 2024. Developed in concert with its member companies, ERIC will advocate for a suite of legislative and regulatory reforms to enhance the ability of large employers to provide uniform and innovative benefit offerings to their nationwide workforces. As this year marks the 50th anniversary of the landmark Employee Retirement Income Security Act of 1974 (ERISA), ERIC’s agenda is tailored to achieve its primary goals of preserving national uniformity and defending plan sponsors’ ability to design valuable and efficient benefits.
“Large employers operating in multiple states need the consistency and certainty provided by ERISA to ensure that they can offer uniform benefits to employees, their families, and retirees, no matter where they live or work,” said James Gelfand, President and CEO of ERIC. “ERIC member companies face an evolving landscape, and ERIC is constantly identifying new opportunities to advance sound policy in Congress, the regulatory agencies, state legislatures, and the courts.”
In addition to ensuring national uniformity in benefit laws, ERIC’s 2024 policy agenda continues to focus on improving employee health, well-being, and financial security. The association’s key policy priorities include:
- Implement transparency, accountability, and affordability in health care markets.
- Implement SECURE 2.0 and avoid overregulation of retirement benefits.
- Improve flexibility, reduce costs, and eliminate administrative burdens for retirement plan sponsors.
- Support and enhance defined benefit plans.