"[ERISA] made some great advances in retirement security since its passage in 1974, but missed some opportunities as well, like structuring the [PBGC] and keeping the focus on fiduciary duty, said past and present Labor Department officials who gathered in Washington to celebrate the law's anniversary.... Not having the reporting and disclosure requirements of ERISA apply to state and local governments also was a mistake, former officials said, particularly as many public plans and taxpayers face serious underfunding demands."  MORE >>