American Council of Life Insurers (ACLI) President & CEO Comments on the 50th Anniversary of the Employee Retirement Income Security Act (ERISA)

WASHINGTON- American Council of Life Insurers (ACLI) President & CEO Susan Neely made the following remarks in her address to the ERISA 50^th Anniversary Gala:

"ERISA was born out of a moment of necessity 50 years ago-responding to the heartbreaking stories of workers who lost their pensions after dedicating their entire careers to a company. At its core, ERISA was and continues to be about protection-about ensuring that when Americans invest their time, their labor, and their loyalty, their retirement and health care benefits will be there when they need them most.

"The story of ERISA is also one of evolution. Over the years, we have seen the landscape of retirement savings and health care plans change dramatically. We've seen new rules, new safeguards, and new partnerships-all aimed at preserving the financial security and wellbeing that workers and retirees count on.

"Tonight, as we reflect on the past 50 years, we also look ahead to the future. The next 50 years of ERISA will undoubtedly bring new challenges-whether it's addressing the evolving nature of work, responding to economic uncertainties, or meeting the needs of a more diverse and dynamic workforce. But we stand together, committed to protecting the dignity and security of every worker's retirement. That commitment will continue to guide us as we write the next chapter of ERISA's history."

The ERISA 50th Anniversary Gala was held in conjunction with a symposium that took place earlier on Thursday, September 12, 2024, in Washington, D.C. to celebrate five decades since the landmark passage of ERISA. Senator Ron Wyden, (D-Ore.), Chairman of the Senate Finance Committee, was the Guest of Honor and Douglas Brinkley, U.S. Presidential Historian and New York Times best-selling author, was the guest speaker. ACLI was a member of the host committee that produced the symposium and gala.

The American Council of Life Insurers (ACLI) is the leading trade association driving public policy and advocacy on behalf of the life insurance industry. 90 million American families rely on the life insurance industry for financial protection and retirement security. ACLI's member companies are dedicated to protecting consumers' financial wellbeing through life insurance, annuities, retirement plans, long-term care insurance, disability income insurance, reinsurance, and dental, vision and other supplemental benefits. ACLI's 275 member companies represent 93 percent of industry assets in the United States.