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Public Statements

Pension Protection Act of 2006

Location: Washington, DC

PENSION PROTECTION ACT OF 2006 -- (Senate - August 03, 2006)


Mr. DEWINE. I want to echo the comments of my colleagues. As the chairman of the HELP Subcommittee on Retirement Security and Aging, I have been working on pension reform legislation for the last year and a half. I believe it is essential that the Senate pass legislation this week that will strengthen defined benefit and multiemployer plans and that will encourage retirement savings by making the retirement provisions of EGTTRA permanent. And while I view this bill as an improvement over the bill the Senate passed last fall, with the elimination of the provision that used credit rating to determine at-risk funding status, I believe that this bill's airline relief provisions are greatly inferior to those of the Senate-passed bill. As my colleagues who spoke before me made clear, this is unacceptable and will need to be fixed when we return from the August recess.



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