The Enron accounting scandal, revealed in October 2001, eventually led to the company's bankruptcy in December 2001 -- the largest bankruptcy reorganization in U.S. history at that time. A consequence of the auditing failure was the passage of the Sarbanes-Oxeley Act. The scandal also led to the collapse of accounting firm Arthur Andersen in 2002.See related editorial "Timeout trouble"
See related editorial "Stop the carnival" about states underfunding their public pension systems.
See related editorial "An idea Down Under" about the Australian superannuation funds as a model for the U.S.
See related editorial "Modernizing a fund" about UPS leaving the plan to withdraw from the Teamsters Central States, Southeast and Southwest Areas Pension Fund.
See related editorial "Judiciary oversight" about a U.S. Supreme Court ruling from February 2008 that clarified a basic and important distinction between defined benefit and defined contribution plans under the Employee Retirement Income Security Act of 1974.