House Republicans Introduce Comprehensive Pension Reform Bill to Protect Workers & Taxpayers

House Republicans Introduce Comprehensive Pension Reform Bill to Protect Workers & Taxpayers
June 9, 2005

WASHINGTON, D.C. - House Republicans today formally introduced comprehensive pension reform legislation - the Pension Protection Act (H.R. 2830) - intended to fix outdated worker pension laws and protect the interests of workers, retirees, and taxpayers.

Education & the Workforce Committee Chairman John Boehner (R-OH), Ways & Means Committee Chairman Bill Thomas (R-CA), Employer-Employee Relations Subcommittee Chairman Sam Johnson (R-TX), and Employer-Employee Relations Subcommittee Vice Chair John Kline (R-MN) introduced the bill at a press conference this morning.

"The workers at United Airlines who've lost significant pension benefits serve as a reminder that protecting workers and taxpayers through fundamental pension reform is needed now," said Boehner. "This bill strikes the right balance of establishing tougher funding requirements for employers, enhancing disclosure on behalf of workers, and protecting taxpayers from a possible multi-billion dollar bailout."

"Our proposal is consistent with President Bush's proposal for reform, and I look forward to working with both the Administration as well as our colleagues in the Senate to move this process forward," added Boehner.

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