Senate Finance Committee Approves Defined Benefit Plan Reform Bill (PDF)

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Senate Finance Committee Approves Defined Benefit Plan Reform Bill (PDF)
HR Policy Association

Aug. 1, 2005

2 pages. Excerpt: On July 26, 2005, the Senate Finance Committee approved S. 219, the National Employee Savings Trust and Equity Guarantee Act (NESTEG) containing significant reforms to the defined benefit system. The bill adopts a rigid yield curve interest rate and requires financially weak firms, as determined by credit ratings, to contribute greater amounts.

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