Abstract
Employee pension and welfare plans first appeared in the United States well before the turn of the century, but rapid growth began only in the 1940s, when wartime wage controls, coupled with favorable tax rules, encouraged fringe benefits as a substitute for wage increases. The plans have attained awe-inspiring dimensions since World War II: The Department of Labor estimates 750,000 pension plans and 1,050,000 welfare plans, covering about 35 million persons, with total assets of the pension plans alone growing from $2.4 billion in 1940 to more than $150 billion in 1973. In 1971 the 50,000 largest welfare plans, those with 100 or more participants, paid benefits in excess of $15 billion. But legal service plans, among the most recent of welfare plans and the subject of this study, are still experimental and small; they involve no great amount of resources.
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