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FROM THE OFFICE OF PUBLIC AFFAIRS

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March 1, 2005
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Testimony of Assistant Secretary of Treasury
Mark J. Warshawsky before the United States
Senate Committee on Finance

Good afternoon Chairman Grassley, Ranking Member Baucus, and members of the Committee.  I appreciate the opportunity to discuss the Administration's proposal to reform and strengthen the single employer defined benefit pension system.  In my testimony, I will focus on the proposal's funding rules, in particular, the calculation of the funding targets.