These are 3 very important Acts to know for an Economics course.
ERISA: The Employee Retirement Income Security Act (1974) provides benefits that include health benefits and pensions. Pensions are payments that people can receive after they retire.
FLSA: The Fair Labor Standards Act (1938) provides benefits that include minimum wage and overtime pay. This was also an important act when it was implemented because many factories were employing young children to work long hours with very little pay. This act made it illegal to hire young children for full time positions.
OSHA: The Occupational Safety and Health Act (1970) provides benefits that include job site inspections to help reduce dangerous work conditions and ensure safe working conditions.
