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CCH® PENSION AND BENEFITS 5/8/06

Treasury official criticizes provisions in pension bills that provide targeted benefits to specific firms

Both the House and Senate pension reform bills (H.R. 2830) are laden with "rifle shot" provisions that provide targeted benefits to one firm or class of firms and workers, Assistant Treasury Secretary Mark J. Warshawsky told the American Society of Pension Professionals and Actuaries (ASPPA) in Washington, D.C., on April 24, 2006. "Put bluntly," he said, "these provisions have no place in a bill that should strengthen pension protections."

The House and Senate have each passed their own version of pension reform legislation. Conferees are currently working to iron out differences between the two bills.

Targeted provisions identified

Warshawsky identified the following "rifle shot" provisions in the House and Senate pension bills:

For more information on this and related topics, consult the CCH Pension Plan Guide.

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