Pension Rights Center: Pension Bill Introduced in Senate

June 28, 2007: At a press conference today, Senator Tom Harkin (D-Iowa) introduced the Restoring Pension Promises to Workers Act of 2007, which contains a number of provisions “to help ensure Americans’ pensions will be there for them when they retire.” For one, the bill would create an Office of Participant Advocacy, which would be a resource for people who are affected by shortcomings in the laws. The bill also includes a provision that would require companies that provide extravagant executive pay packages to maintain a defined benefit pension plan for their workers. There are also protections for employees whose divisions are sold, certain retired union members affected by pension cutbacks, and spouses of federal employees. Read Senator Harkin’s press release. Karen Friedman, PRC Policy Director, spoke at the press conference in support of the bill. Read her statement.

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