Republicans Plan Pension Reform Bill
National Underwriter (Life and Health Financial Services (01/19/04) ; Bell, Alison

GOP lawmakers in the House are crafting new legislation to fortify the defined benefit pension system. Ohio Republican and Education and the Workforce House Committee Chairman John Boehner has suggested the legislation will prevent employers from being able to make guarantees for pension benefits and resist efforts to funnel public support to the Pension Benefit Guaranty Corp. (PBGC). Rep. Sam Johnson (R-Texas), chairman of the Workforce Committee's subcommittee on Employer-Employee Relations, has been working to slow the efforts of some employers and labor groups to persuade the government to shore up the PBGC. Johnson says companies need to stop making pledges they cannot keep "instead of trying to shift additional risk to taxpayers."


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