>The new site – http://www.dol.gov/ebsa/pensionreform.html – will serve as a repository for all activities relating to pension reform, according to a release from the agency.
The Bush Administration in mid-January released a long-awaited set of reforms to the defined benefit private-sector pension plan system including stepped up pension insurance funding and simplified plan funding target rules (See Chao Releases Administration DB Reform Proposal ).
Many groups have come out for and against the controversial plan. The Employment Policy Foundation (EPF) is warning that any move to increase costs to employers could result in many plans being dropped. Morgan Stanley, in an equity research report, gave its support to the changes (See Morgan Stanley Report Supports Private DB Reform ). The United Auto Workers’ union has come out against the proposal (See UAW Says Bush Pension Plan Would Wreck System ).
>A DoL fact sheet about the Bush Administration proposal is available here .