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Compliance December 3, 2001
Pension Reform Makes A Comeback
March 12, 2001 (PLANSPONSOR.com) - Congressmen Rob
Portman (R-Oh) and Ben Cardin (D-Md.) will re-introduce
pension reform legislation in the House of Representatives
March 14.
Reported by Nevin E. Adams
» For Much More About the Portman/Cardin Bill, ClickHere
The Comprehensive Retirement Security and Pension Reform Act is expected to be largely the same as the bill that passed the House by a 401-25 margin last July. The bill would increase contribution limits, enhance the ability of workers to transfer their retirement balances when they change jobs and provide for faster vesting of employer contribution matches.
The bill will reportedly have more than 220 co-sponsors.
The new bill is likely to include provisions to expand cash balance disclosure requirements, based on recommendations to be provided from Treasury, which may also be asked to study the wearaway impact of cash balance conversions.
For more information on the bill, go to our Speciall Issue page on Reps. Portman and Cardin, including a recent interview with the Congressmen.