Headquarters of the U.S. Department of Labor, 1958. The building is now occupied by the Environmental Protection Agency and DOL headquarters have moved to 3rd & C Streets, NW.
The Welfare and Pension Plans Disclosure Act (WPPDA) made the Department of Labor the chief regulator of employee benefits. A precursor to the Employee Retirement Income Secuirty Act, the law mandates that plan sponsors file plan descriptions and annual financial reports with the government. They also must make these materials available to plan participants and beneficiaries. This legislation was intended to provide employees with enough information to monitor their plans and prevent mismanagement and abuse of plan funds.
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