<nobr>Jul 22, 2005</nobr>

ERIC Sends Comments to Senate on Legislation Affecting Hybrid Defined Benefit Pension Plans

Dear Senator:

Attached please find a letter stating employers' concerns with, and describing the likely outcome of, proposals to provide clarification regarding the lawfulness of hybrid plan designs on a prospective only basis. The concerns in the letter focus on the design of hybrid plans and would apply whether the hybrid plan was established in the past as a new plan or through a conversion from a traditional plan.

We appreciate your attention to this issue of great importance to the 8.4 million individuals and their families who currently depend on the secure benefits of their hybrid plans as an important component of their retirement security.

If you have questions, please do not hesitate to contact us.

Mark Ugoretz, President (mugoretz@eric.org)
Janice Gregory, Vice President (jgregory@eric.org)


Text Files:

ERIC Letter to Senate on Prospective Only Hybrid Clarification

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