“The ERISA Industry Committee (ERIC) is deeply troubled by the Congressional budget agreement that includes an increase in premiums paid to the Pension Benefit Guaranty Corporation (PBGC) by companies that sponsor defined benefit pension plans.
“ERIC is adamantly opposed to the PBGC premium increase included in this budget agreement, particularly considering the latest round of increases enacted by Congress only two years ago has not even been fully implemented. There is no policy or financial justification whatsoever for this latest increase, and it quite clearly is just a means so that policymakers can say they offset their spending increases elsewhere,” said ERIC President Scott Macey.
To read more, click here.
ERIC members and trial members can read more about the Budget Agreement here.
For the press release by the House Committee on the Budget, click here.
For the Wall Street Journal article on this issue, click here.
For the Pensions & Investments article on this issue, click here.
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