Document: Statement by ERIC on the Obama Administration's Support for Pension Funding Relief: ERIC

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Statement by ERIC on the Obama Administration's Support for Pension Funding Relief

ERIC Press Statement
For Immediate Release: April 15, 2010

Washington, D.C. -- Statement by ERIC President Mark Ugoretz on Secretary of Labor Hilda Solis' Letter to Key House Committee Chairmen on the Obama Administration's Support for Pension Funding Relief:

"ERIC applauds the Administration's support for pension funding relief and for recognizing the urgency of this issue. This is an urgent issue for employers -- many of who continue to be strapped for cash and must choose between funding their plans and hiring delays or even further cutting back on jobs.

"Considering that the Administration has now publicly endorsed pension funding relief, ERIC again urges Congress to move quickly on approving meaningful relief. With broad bipartisan support and a direct impact on jobs, funding relief is an obvious winner, particularly if you are looking for more investment to spur economic growth and at no cost to taxpayers.

"Simply stated, it is essential for Congress to act quickly and decisively in order to support the remaining defined benefit plans still offering retirement security to participants. Moreover, any relief that Congress provides must be made available to both frozen and non-frozen plans in order to help companies transition out of the recession and into the economic recovery."

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For more information:
Ted Godbout
Director, Communications
The ERISA Industry Committee
1400 L Street, NW, Suite 350
Washington, DC 20005
Phone: (202) 789-1400
Fax: (202) 789-1120
tgodbout@eric.org
www.eric.org

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The ERISA Industry Committee (ERIC) is a non-profit association committed to representing the advancement of the employee retirement, health, and compensation plans of America's largest employers. ERIC's members provide benchmark retirement, health care coverage, compensation, and other economic security benefits directly to tens of millions of active and retired workers and their families. ERIC has a strong interest in proposals affecting its members' ability to deliver those benefits, their cost and their effectiveness, as well as the role of those benefits in the American economy.

Text Files:

Labor Secretary Hilda Solis' Letter to House Chairmen

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