Hill Letter to Treasury on Frozen DB Plans and Nondiscrimination Testing

Various members of Congress, including Representative Tiberi (R-OH) and Richard Neal (D-MA), sent a letter to Treasury Secretary Jacob Lew urging action on frozen defined benefit plans and nondiscrimination testing.

The letter describes the concerns of companies with frozen defined benefit plans regarding the increased difficulty over time (and currently for some large companies) to pass the nondiscrimination test. In particular, these members of Congress ask Treasury to address the issue “expeditiously” and “to consider non-regulatory approaches that could be implemented more quickly and thus prevent benefit freezes that could otherwise occur very soon.”

A copy of the letter is available here.

ERIC members and trial members can read more here.