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. Welfare

    A government program which provides financial aid to individuals ...
  3. Pension Fund

    A fund established by an employer to facilitate and organize ...
  4. Pension Shortfall

    A situation in which a company offering employees a defined benefit ...
  5. 419(e) Welfare Benefit Plans

    A type of employer-sponsored employee welfare benefit plan. 419(e) ...
  6. Employee Retirement Income Security ...

    The Employee Retirement Income Security Act of 1974 (ERISA) protects ...
Related Articles
  1. Retirement

    Is Your Defined-Benefit Pension Plan Safe?

    Your plan may not last in a rocky market. Find out whether your savings will be affected.
  2. Retirement

    The Investing Risk Of Underfunded Pension Plans

    Determine the risk to a company's EPS and financial condition resulting from an underfunded pension plan.
  3. Retirement

    7 Signs Your Pension Fund Is In Trouble

    Even if you're lucky enough to have a pension plan, you can't assume it'll pay out.
  4. Retirement

    Pension Protection Act Of 2006 Becomes Law

    Learn how the passed bill can help you save more for retirement.
  5. Retirement

    The Pension Bill: A Wolf In Sheep's Clothing

    Find out why the 2006 act may not be all it's cracked up to be.
  6. Retirement

    Lump Sum Versus Regular Pension Payments

    If you're about to retire, you may be facing this dilemma soon. Find out what your options are.
  7. Investing

    How To Evaluate Pension Risk By Analyzing Annual Costs

    Learn how to assess whether a company's pension plan is posing more risks than what the footnotes indicate.
  8. Retirement

    Will My Pension Impact My Social Security Benefits?

    So you're eligible for a pension, and you're eligible for social security. And the question is, will that pension impact your social security benefit?
  9. Retirement

    Are part-time employees eligible for fringe benefits?

    Learn how offering fringe benefits allows employers to entice new talent to join their teams, although part-time workers do not often get these benefits.
  10. Retirement

    Who is exempt from paying Social Security taxes?

    Learn about the groups of people who qualify for exemption from Social Security taxes, and explore the process of applying for exemption.

You May Also Like

Hot Definitions
  1. Command Economy

    A system where the government, rather than the free market, determines what goods should be produced, how much should be ...
  2. Prospectus

    A formal legal document, which is required by and filed with the Securities and Exchange Commission, that provides details ...
  3. Treasury Bond - T-Bond

    A marketable, fixed-interest U.S. government debt security with a maturity of more than 10 years. Treasury bonds make interest ...
  4. Weight Of Ice, Snow Or Sleet Insurance

    Financial protection against damage caused to property by winter weather specifically, damage caused if a roof caves in because ...
  5. Weather Insurance

    A type of protection against a financial loss that may be incurred because of rain, snow, storms, wind, fog, undesirable ...
  6. Portfolio Turnover

    A measure of how frequently assets within a fund are bought and sold by the managers. Portfolio turnover is calculated by ...
Trading Center