Welfare And Pension Plans Disclosure Act (WPPDA)

AAA

DEFINITION of 'Welfare And Pension Plans Disclosure Act (WPPDA)'

A late-1950s law that gave the U.S. Department of Labor regulatory authority over employee benefits plans for the first time. The Welfare and Pension Plans Disclosure Act (WPPDA) mandated that employers and labor unions provide plan descriptions and financial reports to the government, and was intended to make plan sponsors more accountable to participants and beneficiaries for the financial health of the plans.

INVESTOPEDIA EXPLAINS 'Welfare And Pension Plans Disclosure Act (WPPDA)'

A 1962 amendment to the WPPDA increased regulatory authority over the plans by giving the government enforcement interpretative and investigatory powers. The WPPDA was a precursor to the much broader Employee Retirement Income Security Act (ERISA), which replaced it in 1974. The ERISA adds to the requirements under the WPPDA by establishing standards of fiduciary duty, protecting the plan from mismanagement and increasing participants' and beneficiaries' rights.

RELATED TERMS
  1. Accrued Monthly Benefit

    The earned pension benefit that will be paid to an employee at ...
  2. Employee Retirement Income Security ...

    The Employee Retirement Income Security Act of 1974 (ERISA) protects ...
  3. Pension Shortfall

    A situation in which a company offering employees a defined benefit ...
  4. Pension Fund

    A fund established by an employer to facilitate and organize ...
  5. Welfare

    A government program which provides financial aid to individuals ...
  6. 419(e) Welfare Benefit Plans

    A type of employer-sponsored employee welfare benefit plan. 419(e) ...
Related Articles
  1. Is Your Defined-Benefit Pension Plan ...
    Retirement

    Is Your Defined-Benefit Pension Plan ...

  2. The Investing Risk Of Underfunded Pension ...
    Retirement

    The Investing Risk Of Underfunded Pension ...

  3. 7 Signs Your Pension Fund Is In Trouble
    Retirement

    7 Signs Your Pension Fund Is In Trouble

  4. How To Evaluate Pension Risk By Analyzing ...
    Investing

    How To Evaluate Pension Risk By Analyzing ...

comments powered by Disqus
Hot Definitions
  1. Last In, First Out - LIFO

    An asset-management and valuation method that assumes that assets produced or acquired last are the ones that are used, sold ...
  2. Ghosting

    An illegal practice whereby two or more market makers collectively attempt to influence and change the price of a stock. ...
  3. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  4. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  5. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  6. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
Trading Center