On the recordJuly 18, 2013
Thank you, Mr. Chairman. I would now like to yield 2 minutes to the gentleman from Indiana (Mr. Messer), a member of the committee.
Thank you, Mr. Chairman. I would now like to yield 2 minutes to the gentleman from Indiana (Mr. Messer), a member of the committee.
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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.
There is nothing fair or excusable about a 75-year-old retiree with health care concerns finding out that the pension he was promised just isn't funded.
I cannot State emphatically enough that far-reaching reform, fiscal responsibility, and bipartisanship must be the principles that guide us as we work to solve this problem.
Composite plans are not intended to replace defined benefit plans, but are intended to be an alternative to the 401(k) defined contribution plan.