Congress Urged To Pass Pension Reform Legislation.(Brief Article)

National Underwriter Property & Casualty-Risk & Benefits Management, February, 2001 by BROSTOFF, STEVEN

Employers, insurance agents and life insurance companies are urging Congress to quickly enact a major pension reform bill that drew 401 votes in the last Congress. The legislation--which is expected to be formally introduced by Reps. Rob Portman, R-Ohio, and Ben Cardin, D-Md.--would increase the contribution limits to 401(k) plans and individual retirement accounts, ease the administrative burdens faced by employers who sponsor plans and provide incentives for small employers to offer plans.

Employers and life insurers say that Portman-Cardin should be attached to President George W. Bush's tax reduction legislation that is now moving through Congress. In a statement delivered to the House Ways and Means Committee, the Washington-based ERISA Industry...

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