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<nobr>Jul 6, 2004</nobr> ERIC Statement Before House Ed & Workforce Cmte. on Cash Balance / Hybrid Plans
The ERISA Industry Committee (ERIC) today commended The House Education and Workforce Committee for holding hearings on cash balance and other hybrid plans calling it a welcomed opportunity for Congress to develop an informed understanding about these plans. ERIC warned that if anticipated Congressional legislation errs in the treatment of these plans, employers are likely to abandon defined benefit plans at an accelerated rate. |