ERIC Responds to Treasury Extending Transitional Relief for Closed Defined Benefit Pension Plans

September 19, 2016

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CONTACT:
Kelly Broadway, 202.627.1918, kbroadway@eric.org

For Immediate Release

ERIC Responds to Dept. of Treasury Extending Transitional Relief for Closed Defined Benefit Pension Plans

WASHINGTON – The following statement should be attributed to Will Hansen, senior vice president of retirement policy, The ERISA Industry Committee (ERIC):

“Today’s news that the Department of Treasury is extending discrimination testing transitional relief for all of 2017 for closed defined benefit plans is welcomed, however, The ERISA Industry Committee strongly urges the Department to provide greater flexibility in satisfying testing requirements upon issuance of the final regulations.

As the only national trade association that advocates for large employers on retirement and compensation public policy on the federal, state and local levels the testing requirements greatly affect our members. That is why ERIC previously provided comments and testimony on the testing requirements. We strongly urge the regulators to and revisit our requests before issuing the final regulations.”

About the ERISA Industry Committee
The ERISA Industry Committee (ERIC) is the only national trade association advocating solely for the employee benefit and compensation interests of the country's largest employers. ERIC supports the ability of its large employer members to tailor health, retirement and compensation benefits for millions of employees, retirees and their families. Learn more at eric.org.