[Opinion]

2/17/2004: Proposed Cash Balance and Hybrid Pension Legislation— Two Steps Forward, Two Steps Back (Coalition to Preserve the Defined Benefit System)

Excerpt: The Treasury Department's legislative recommendations regarding hybrid pension plans contain some positive news ... If adopted, they would provide that cash balance and other hybrid pension plans are generally not age discriminatory. In addition, Treasury has addressed the counterintuitive and anti-employee 'whipsaw' issue so that cash balance plan sponsors would no longer be penalized for providing employees with interest credits that exceed Treasury bond rates.