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

For Immediate Release

Washington, DC – 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.”

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All media inquiries to The ERISA Industry Committee should be directed to:

Kelly Broadway, 202.627.1918, kbroadway@eric.org

About the ERISA Industry Committee
ERIC is the only national association that advocates exclusively for large employer plan sponsors on health, retirement, compensation, and paid leave public policies at the federal, state, and local levels. With member companies that are leaders in every sector of the economy, ERIC promotes uniformity and flexibility for nationwide benefit plans.