Pension Reform Makes A Comeback

March 12, 2001 ( - Congressmen Rob Portman (R-Oh) and Ben Cardin (D-Md.) will re-introduce pension reform legislation in the House of Representatives March 14.

»  For Much More About the Portman/Cardin Bill, ClickHere

The Comprehensive Retirement Security and Pension Reform Act is expected to be largely the same as the bill that passed the House by a 401-25 margin last July.  The bill would increase contribution limits, enhance the ability of workers to transfer their retirement balances when they change jobs and provide for faster vesting of employer contribution matches.

The bill will reportedly have more than 220 co-sponsors. 

The new bill is likely to include provisions to expand cash balance disclosure requirements, based on recommendations to be provided from Treasury, which may also be asked to study the wearaway impact of cash balance conversions.

For more information on the bill, go to our Speciall Issue page on Reps. Portman and Cardin, including a recent interview with the Congressmen.