Administration stymies pension change effort; No new valuation rule recommended.(News)(Bush administration, pension liabilities)

Business Insurance, May, 2003 by Geisel, Jerry

Byline: JERRY GEISEL WASHINGTON-The Bush administration's unwillingness to make a permanent recommendation on how employers should value pension liabilities comes as a blow to business groups, which have been vigorously lobbying the administration and Congress to make a change. Citing the complexities and risks of altering the rules, Undersecretary of Treasury for Domestic Finance Peter Fisher said more time is needed to develop an appropriate and permanent way of measuring liabilities.

``It is very challenging issue,'' Mr. Fisher told the House Ways and Means Select Revenue Measures subcommittee last week. Mr. Fisher said more time is needed because making a mistake could have serious and negative consequences, ranging from underfunding to overfunding...

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