John Kline: “It is my hope that we can build on this progress in the weeks and months ahead.”

Composite plans are not intended to replace defined benefit plans, but are intended to be an alternative to the 401(k) defined contribution plan.

Former Chairman John Kline, while recognizing that the overtime threshold should be responsibly reformed, called the administration's drastic move extreme and partisan.

Thank you, Mr. Chairman. I thank the witnesses for being with us today. Excellent testimony, as we're trying to solve the problem that some of us have been dealing with for a long time.

During the eight long years our team spent working to pass this bill, no topic was more hotly debated than that of annual testing. . . In the end, we arrived at a fair and sensible compromise in the law: Keep the requirement that the same…