On the recordApril 8, 2004
I want to speak about the need for permanent reform because this is temporary legislation. It is a first step in what needs to be done to preserve the defined benefit pension plan. While this 2-year interest rate fix provides a temporary solution, we must take action then on a permanent solution. Pension plan sponsors continue to confront a world of uncertainty until we get a permanent replacement. They need to be able to budget for future pension expenses. It is unfair to leave them in financial limbo. If we continue to do so, many will simply abandon pension plans altogether.
Source
govinfo.gov
