ERISACRATs
When my oldest child was about 13 years old, he asked me to explain what I did for a living. I told him I was an ERISA twit. We then spent some quality time on the Internet, so he could understand what ERISA was and a bit about what I did. Since he was in the mood to actually like me at that time - he found my name on the Internet, after all, giving me immediate credibility - he decided that terminology was demeaning. About 2 weeks later, he came back with the term ERISACRAT and I have since been reveling in it.
To me, an ERISACRAT is someone who takes the concept of the law very seriously, to work towards Employee Retirement Income Security. I hope that I am, in fact, an ERISACRAT or at least on the way to becoming one.
I put the question out to the audience - do you like the term? Probably not too catchy, won't show up on any late night talk show. But, who would you nominate as an ERISACRAT?
The first name that comes to my mind is the late chair of the BNA Pension and Benefits Advisory Board - Michael Gordon. He was a brilliant and generous man and a huge asset to the benefits community. Clearly since he contributed to the writing of ERISA, he deserves the title.
The second name that comes to mind doesn't actually have a name. Somewhere back in 1979, someone decided to eliminate Form EBS-1 - a 30+ page compliance nightmare. Had that filing requirement persisted people would have simply thrown in the towel on sponsoring any benefit plans. So - thanks to you, anonymous ERISACRAT.
I realize this does not have the jazz of "ERISA hottie" but the exercise might trigger some interesting and colorful nominees, so have at it.
If there was ever an ERISACRAT, it's Jeff Mamorsky. Jeff has spent his entire career (and his heart and soul) making sure that plan sponsors do the right thing. He contributed to writing ERISA. He has written extensively on the subject, and is genuinely passionate about ERISA compliance.
Posted by: Joe Saburn | November 15, 2006 at 02:49 PM
Well, I nominate my daughter, Erisa, as an ERISACRAT. Not for the same reasons as the other nominees. I've been an ERISA attorney since 1984, and I always thought it would be a pretty name for a girl, so when my daughter was born in 1994, we named her Erisa. By the age of 5 or 6, she knew what ERISA stood for and would tell people "It's the Employee Retirement Income Security Act," and she knew it was a "very important federal law." And other people (who don't work in benefits) often comment on what a pretty name she has.
Posted by: Lisa Klinger | November 08, 2006 at 02:03 PM
I love the term "ERISACRAT", and hereby nominate Ira Cohen, Senator Javits and Carol Gold.
Posted by: Judy Mazo | November 02, 2006 at 05:39 PM
I had not thought of the bureaucrat implications. It was intended to be like aristocrat - a good thing.
Posted by: Becky Miller | November 01, 2006 at 01:02 PM
We are fortunate to have a few people on the BNA Editorial Advisory Board, who were Erisacrats from the first day we had an ERISA and even a bit before. Certainly Frank Cummings and Steve Sacher and Karen Ferguson, and there are others. And of former board members, I think of Don Grubbs, and of course there will never be another of the likes of Mike Gordon. And Becky and Ron are among those who certainly deserve the label. Indeed, I think we are fortunate to be in a field where many people are trying to contribute to retirement security by doing their jobs well.
Posted by: Norman Stein | November 01, 2006 at 08:38 AM
My daughter asked the same question when she was about 13. She's now 33 and stopped asking, but most of the time pronounces "ERISA" correctly, though doesn't recall what it stands for. And she worked in my office for two years!
So if ERISACRAT is like an aristocrat, it's a good thing. If it's like bureaucrat, it would be a bad thing. That your daughter says it with love and admiration makes it very special and it doesn't need to be shared. Enjoy it to its fullest.
Posted by: Ron Dean | October 31, 2006 at 02:10 PM