Law Commons^™

Welfare And Pension Plans Disclosure Act Amendments Of 1962, G. Robert Blakey

Journal Articles

Over-all criticism of the Welfare and Pension Plans Disclosure Act, even as amended, must begin by noting the continuing inadequacy of its disclosure provisions. They are inadequate precisely because they do not require full and complete disclosure. It is clear that strong sanctions now exist which can, if used, deal well enough with such abuses as double dealing and outright thievery. Vigorous prosecution and adequate bonding will do about all that law can do where basic dishonesty is involved. Of greater importance to the ultimate beneficiary, however, is the possibility of incompetent, imprudent or irresponsible management. Only detailed regulation or …