Private pension plans as integral to the continued well-being and security of employees and their dependents

Section 2 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1001) is amended by adding at the end the following: (d) Congress finds that the retirement security of millions of employees and their dependents is directly impacted by the voluntary sponsorship and maintenance of pension plans. It is hereby declared to be a policy of this Act to promote, encourage, and facilitate the voluntary establishment and maintenance of, and contribution to, such plans..