Welfare And Pension Plans Disclosure Act (WPPDA)

Known adoringly as the WPPDA, the Welfare and Pension Plans Disclosure Act was created in the 1950s, and gave the U.S. Department of Labor authority to regulate the benefits of employees at private companies. It required employers (and labor unions) to give the Department of Labor reports and summaries of their benefits plans to make employers accountable for what they’re promising workers.

Not getting your benefits is just as bad as your employer paying you less than you agreed upon. Giving the Department of Labor the power of transparency and the ability to investigate wrongdoings is a way of protecting workers.

But the WPPDA is now history, since it was replaced by the Employee Retirement Income Security Act (ERISA) in the 1970s. ERISA expanded on WPPDA, requiring businesses to provide pension plan participants with plan information and features, and regularly update them free of charge. ERISA also has a backup plan for when employers do screw over their workers (in some cases) with benefits from a federally chartered corporation.