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Pension & Retirement Security for U.S. Workers
Giving Workers More Freedom to Diversify, Better Access to Investment Advice; Strengthening Enforcement of Federal Pension Protection Laws

 

Protecting and strengthening the retirement security of American workers has been a top priority for Republicans and will continue to be a key priority in the 109th Congress.  Republicans believe reforming our pension laws should encourage employers to offer both 401(k) accounts and defined benefit plans to their workers.

 

Unfortunately, financial troubles are forcing some employers to consider terminating their defined benefit pension plans, threatening American taxpayers with the prospect of a multi-billion dollar bailout.  At the heart of this potential crisis are outdated federal laws that govern defined benefit pension plans and sometimes make it difficult to ensure worker retirement plans are adequately funded.  Republicans believe these laws must be updated to protect workers and taxpayers, and will continue to work on legislation to reform and strengthen the defined benefit system, as well as look at defined contribution 401(k) reforms to help workers protect and expand their retirement savings.

 

Issue Briefs: Reforming and Strengthening the Defined Benefit Pension System and Protecting and Enhancing Defined Contribution 401(k) Plans

Press Statements:

• Surging Dow, Strong Economy Add Value to Retirement Savings of Working Americans - November 2, 2006
• Before Congressional Panel, Witnesses Underscore Troubling Trend of Underfunded State and Local Pension Plans - August 30, 2006
• President Signs Measure to Reform Outdated Worker Pension Laws - August 17, 2006
• Boehner & McKeon: CBO Report Confirms that Comprehensive Pension Reforms Far Stronger than Current Law, Protects Taxpayers from PBGC Bailout - August 3, 2006
• McKeon Hails Passage of Sweeping Reforms to Worker Pension Laws - July 28, 2006
• Democrats' Rhetoric Doesn't Match Their Record, Says Education & the Workforce Chair - June 14, 2006
• Workforce Committee Sends Four to House-Senate Pension Reform Conference - March 8, 2006
• Statement by Education & the Workforce Committee Chairman John Boehner on Final Approval of the Deficit Reduction Act - February 1, 2006
• Boehner Statement on House Passage of the Deficit Reduction Act - December 19, 2005
• With Strong Bipartisan Vote, House Backs Comprehensive Pension Reform Measure - December 15, 2005
• Boehner, Thomas Announce Agreement with United Auto Workers on Key Pension Reforms - December 13, 2005
• Boehner Questions House Democrat Leadership's Late Entry into Pension Reform Debate - December 9, 2005
• Boehner Statement on Passage of the Deficit Reduction Act - November 18, 2005
• Boehner, Johnson Expect House to Move Quickly on Comprehensive Pension Reform Legislation - November 16, 2005
• PBGC Deficit Underscores Urgency for Comprehensive Pension Reform Legislation - November 15, 2005
• Boehner & Miller Ask for Capitol Police Investigation Involving Confidential Committee Documents - November 10, 2005
• House Committee Backs Measure to Place PBGC on More Solid Financial Foundation, Help Protect Agency from Massive Taxpayer Bailout - October 26, 2005
• Boehner Outlines Plan to Strengthen Higher Education & Protect Worker Retirement Security - October 25, 2005
• Speech by Chairman Boehner on the Need for Comprehensive Pension Reform - September 27, 2005
• Workforce Republicans Introduce Pension Legislation to Provide Financial Flexibility for Displaced Gulf Coast Workers - September 22, 2005
• Statement by Chairman John Boehner on 30-Year Bond Announcement, Impact on Pension Reform - August 3, 2005
• Boehner, Johnson Call on Congress to Complete Action on Pension Reform This Year, Oppose Extending Corporate Bond Interest Rate Fix - July 26, 2005
• Committee Approves Pension Protection Act - June 30, 2005
• Statement of Rep. John Boehner (R-OH), Chairman, Committee on Education & the Workforce, on markup of H.R. 2830, the Pension Protection Act - June 29, 2005
• Subcommittee Passes Comprehensive Pension Reforms to Protect Workers, Retirees, & Taxpayers - June 22, 2005
• Witnesses Testify on Pension Protection Legislation to Fix Outdated Worker Pension Laws, Protect Taxpayers - June 15, 2005
• House Republicans Introduce Comprehensive Pension Reform Bill to Protect Workers & Taxpayers - June 9, 2005
• GAO Report Highlights Need to Reform Outdated Worker Pension Laws - May 31, 2005
• Statement by Education & the Workforce Committee John Boehner on Court Decision Allowing United Airlines to Terminate its Defined Benefit Plans - May 11, 2005
• Labor Department Letter Questions Legality of AFL-CIO Tactics to Influence Social Security Debate - May 4, 2005
• Boehner, Johnson Call on Labor Department to Investigate Whether Union Leader Tactics to Influence Social Security Debate Violate Federal Law - March 18, 2005
• Witnesses Discuss Bush Administration Proposal to Address Worker Pension Crisis - March 2, 2005
• Boehner, Johnson Announce Hearing to Examine Bush Administration Proposal to Address Worker Pension Crisis - February 23, 2005
• Statement by Chairman John Boehner (R-OH) on Bush Administration’s FY 2006 Budget Pension & Retirement Security Proposals - February 7, 2005
• PBGC ‘High Risk’ Status Underscores the Need for Comprehensive Pension Reform, Boehner Says - January 25, 2004
• Statement by Education & the Workforce Committee Chairman John Boehner (R-OH) on Bush Administration Pension Reform Proposal - January 10, 2004
• Statement by Education & the Workforce Committee Chairman John Boehner (R-OH) on Court Decision Allowing US Airways to Terminate Defined Benefit Plans - January 6, 2005

Op-Eds:

• Strengthening Pension Laws on Behalf of Workers, Retirees, and Taxpayers: As Published by The Hill - July 6, 2006
• Protecting Pensions: Lessons Learned from the S&L Crisis: As Published by National Review Online - October 17, 2005

Bill Summaries:

• Pension Protection Act (H.R. 4 Passed by the House on July 28, 2006; Passed by the Senate on August 3, 2006)
  • Click Here for the Bill Text
  • Click Here for the Joint Committee on Taxation Technical Explanation
• Pension Protection Act - March 8, 2006 (H.R. 2830, Passed by House on December 15, 2005)

Fact Sheets:

• An Overlooked Benefit of the Pension Protection Act: More Help in Paying for College - September 5, 2006

• Editorial Boards, Columnists Agree: Pension Protection Act Will Make a Real Difference for Workers, Retirees, and Taxpayers - September 5, 2006

• Pension Reform Protects the Interests of Workers, Retirees, and Taxpayers - July 26, 2006

Dear Colleague Letters:

• Protect Worker Retirement Security; Oppose the Motion to Recommit - December 15, 2005

• House Pension Bill Strengthens Current Law to Protect Workers, Retirees, and Taxpayers - December 15, 2005

• A Dozen Reasons to Support the Pension Protection Act (H.R. 2830) - December 15, 2005

• Strong Union Support for the Pension Protection Act - December 15, 2005

• House Pension Bill Helps Fix Outdated Pension Laws that Jeopardize Worker Retirement Security - December 15, 2005

• Help Workers Gain Access to Secure Retirement Benefits; Vote YES on the Pension Protection Act - December 15, 2005

• Support Pension Fairness: End Excess Executive Compensation When Worker Pensions are in Jeopardy - December 15, 2005

• Ever-Growing Coalition of Labor, Employer Groups Back Swift Passage of Pension Protection Act (H.R. 2830) - December 15, 2005

• UAW is Latest Addition to Coalition of Labor, Employer Groups Backing the Pension Protection Act (H.R. 2830) - December 15, 2005

• Independent Analysis Confirms Balance of House Approach to Protecting Worker Retirement Benefits - December 14, 2005

• Pension Protection Act Safeguards Retirement Benefits of All Workers - December 14, 2005
• Don't Keep Employees in the Dark: Access to Investment Advice Can Help Protect Worker Pensions - December 14, 2005
• Pension Protection Act (H.R. 2830) Will Fix Outdated Pension Rules, Encourage Greater Retirement Savings - December 14, 2005
• Support Enhanced Disclosure of Pension Information to Protect Workers, Retirees & Taxpayers - December 13, 2005
• Hybrid Pension Plans Strengthen & Enhance Retirement Security for Working Americans - December 13, 2005
• Pension Security Must be Strengthened to Meet the Challenges of Changing Demographics - December 12, 2005
• Growing Number of Our Nation's Leading Newspapers Highlight Urgency for Congress to Act on Pension Reforms - December 12, 2005
•  Without Pension Reform, More Workers & Retirees Will Lose Pension Benefits - December 9, 2005
• House Pension Bill Helps Fix Broken Pension Laws that Place the Retirement Security of Millions at Risk - December 8, 2005
• Broad Coalition of Employers, Unions Back Swift Passage of Pension Protection Act (H.R. 2830) - December 7, 2005
• Nation's Editorial Pages Highlight Pension Crisis, Cite Growing Urgency for Congress to Act on Reforms - December 1, 2005
• Setting the Record Straight on the Pension Protection Act - November 17, 2005
• Independent Research Confirms Hybrid Pension Plans Benefit Growing Number of American Workers - November 3, 2005
• Budget Proposals Strengthen Higher Education & Protect Pensions on Behalf of Students, Workers, Retirees & Taxpayers - November 1, 2005
• Protect the Retirement & Pension Security of Working Americans; Support Cash Balance Pension Plans - October 26, 2005
• Reforming Outdated Worker Pension Laws Necessary to Protect Taxpayers from Multi-Billion Dollar PBGC Bailout - June 27, 2005
• Reviews of the Pension Protection Act Keep Coming In … Here’s What They’re Saying - June 24, 2005
• Fix Outdated Pension Laws by Protecting Workers, Retirees, & Taxpayers - June 23, 2005

Committee Hearings and Markups:

• On June 30, 2005, the Full Committee held a markup of H.R. 2830, the Pension Protection Act, and approved the bill by a vote of 27 ayes - 22 voting present - Opening Statements and Related Documents
• On June 22, 2005, the Subcommittee on Employer-Employee Relations held a markup of H.R. 2830, the Pension Protection Act, and approved the bill by voice vote - Opening Statements and Related Documents
• On June 15, 2005, the Full Committee held a hearing on "H.R. 2830, the Pension Protection Act" - Opening Statements and Witness Testimony
• On March 2, 2005, the Full Committee held a hearing on "The Retirement Security Crisis: The Administration's Proposal for Pension Reform and its Implications for Workers and Taxpayers" - Opening Statements and Witness Testimony

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Click HERE for information on this issue in the 108th Congress (2003-2004)