Letter Outlines Consumer Group’s Positions on Key Issues in Pension Legislation
WASHINGTON – In a letter delivered today to every member of the Congressional conference committee working on the pension reform legislation, the Pension Rights Center called on the lawmakers to take into account the concerns of millions of employees and retirees, and asked them to support or oppose specific provisions in the legislation.
“This is a massive piece of legislation that in reality only scratches the surface in terms of what needs to be done to address critical pension issues,” said Karen Friedman, policy director of the Pension Rights Center and one of the letter’s co-authors. “We are focusing on the provisions that we feel are most important to protecting the retirement security of American workers.”
Specifically, the Pension Rights Center asked Members to support provisions that:
The Center asked Members to oppose provisions that:
“We certainly want pensions to be adequately funded,” said Friedman. “However, we don’t want funding requirements to be made so onerous that employers will simply abandon traditional plans. Furthermore, the legislation doesn’t even begin to address the recent pension freezes by healthy companies such as Verizon and IBM. Clearly, much more needs to be done to ensure that no more pension promises are broken.”
Read the Pension Rights Center’s letter to the conferees.