In a statement submitted to the House Ways and Means Subcommittee on Select Revenue Measures, the ERISA Industry Committee (ERIC) urged the subcommittee to protect and encourage the continuation of retirement plans by minimizing costs to maintain retirement plans, provide relief for frozen defined benefit plans, recognize the deferral nature of retirement savings, and critically evaluate proposals to change the system. ERIC submitted the statement for a hearing by the subcommittee on challenges facing employers, employees, and retirees who rely on defined benefit pension plans to help provide retirement security.
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