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Describe how wage stabilization during World War II affected private pension plans.

  1. Describe how wage stabilization during World War II affected private pension plans.
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The wage stabilization program was created during World War II as a way to control prices. This prevented employers from being able to offer higher wages. Because of this, the War Labor Board permitted employers to establish benefit programs that included retirement plans. After the war, employees were more interested in higher wages, and benefit plans saw some stagnation in their growth. However, with public pressure on unions for their constant demands for higher wages, coupled with the realization that social security was inadequate, retirement plans once again became a topic of interest. This renewed interest quickly became a major focus among a large segment of the labor force.

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