A landmark law at 40

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(The writer is a Reuters columnist. The opinions expressed are his own.)

Every American who has retired with economic security – or hopes to – should know these two dates in our history: August 14, 1935, and September 2, 1974.

The Social Security Act was signed into law by President Franklin D. Roosevelt in 1935, and 40 years ago today President Gerald Ford signed landmark pension reform legislation aimed at protecting the interests of Americans in private sector pension programs. The Employee Retirement Income Security Act (ERISA) was signed on Labor Day 1974.

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