With Strong Bipartisan Vote, House Backs Comprehensive Pension Reform Measure

With Strong Bipartisan Vote, House Backs Comprehensive Pension Reform Measure
December 15, 2005

Bill Fixes Outdated Funding Rules, Restores Confidence in Pension System

WASHINGTON, D.C. - With significant bipartisan support, the U.S. House of Representatives today approved the Pension Protection Act (H.R. 2830), comprehensive reform legislation intended to protect the interests of workers, retirees, and taxpayers by shoring up the health of the traditional defined benefit pension system. The bill passed by a strong bipartisan vote of 294-132, with 70 Democrats supporting the bill.

"Our nation's pension laws are outdated and broken, placing at risk the retirement security of millions of American who rely on our worker pension system," said Rep. John Boehner, chairman of the Education & the Workforce Committee. "With today's vote, we seized the opportunity to advance real change by passing the most comprehensive reforms to worker pension laws in more than a generation."

Among the Democrats backing the measure were Rep. John Dingell (D-MI), the most senior member of the House, as well as Education & the Workforce Committee members Rep. Carolyn McCarthy (D-NY), Rep. Dale Kildee (D-MI), Rep. David Wu (D-OR), and Rep. Rob Andrews (D-NJ). Differences between the bill and a previously-passed Senate pension bill must now be resolved before a final measure can be sent to President Bush for his signature.

"I'm pleased a number of Democrats were willing to cross party lines and support this legislation on behalf of workers, retirees, and taxpayers alike," continued Boehner. "I hope this bipartisan cooperation continues as we work with the Senate to craft a final measure to send to President Bush."

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