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<nobr>Jul 29, 2006</nobr>
Statement of ERIC President Mark Ugoretz on Pension Reform Legislation
July 29, 2006
FOR IMMEDIATE RELEASE
Washington, D.C.—Today, ERIC President Mark Ugoretz released the following statement on the House passage of H.R. 4:
“The pension reforms before Congress are the most far-reaching and comprehensive pension changes in thirty years and dramatically affect not only how plans will be funded and administered but whether employers will continue to sponsor them.”
“The measure of success of the pension reforms depends on whether they reflect the balance that was struck thirty years ago: They must both protect participants and establish a regulatory framework that encourages employers voluntarily to provide retirement plans for their employees. The legislation’s true test will be its impact in the real world, as each employer asks, ‘Can I sponsor a pension plan under these rules?’”
For a more detailed statement of ERIC’s position on the pending pension legislation, please see the attached background statement.
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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.
Press Contact
S. Michael Chittenden
Director, Communications
The ERISA Industry Committee
1400 L Street, N.W., Ste 350
Washington, D.C. 20005
Ph: (202) 789-1400
Fax: (202) 789-1120
Text Files:
ERIC Background Statement on H.R. 4
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