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OPA News Release: [02/18/2005]
Contact Name: Eryn Witcher or Gloria Della
Phone Number: 202-693-4676 or x8666
Release Number:
05-0295-NAT
U.S. Secretary of Labor Elaine L. Chao Statement
On American Benefits Council Pension Reform Report
WASHINGTON—U.S. Secretary of Labor and Chairman of the Board
of the Pension Benefit Guaranty Corporation Elaine L. Chao today released the following
statement on the American Benefits Council proposal for pension reform:
“It is disappointing that the report fails to recognize the reality that
the pension funding rules are broken, causing workers and retirees harm and putting taxpayers
at risk. We must act now and adopt comprehensive reforms that give employers new tools to
better fund their plans and provide workers, regulators and investors with better and more
timely information about a plan’s financial status.”
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