<nobr>Jul 29, 2006</nobr>

Statement of ERIC President on H.R. 4

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.

Press Contact
Mike Chittenden
Director, Communications
Ph: (202) 789-1400
mchittenden@eric.org

Additional Contacts
Mark Ugoretz
President
Ph: (202) 789-1400
mugoretz@eric.org

Janice Gregory
Senior Vice President, Retirement Policy
Ph: (202) 789-1400
jgregory@eric.org

Text Files:

ERIC Statement on HR 4

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