Dennis Kucinich: “This is really about fairness. It is about values. I rise in strong support of Congressman Miller's motion to instruct.…”

“This is really about fairness. It is about values. I rise in strong support of Congressman Miller's motion to instruct. I commend my colleague, Mr. Miller, for his leadership in working to ensure that pension reform puts workers first. This motion to instruct highlights a number of important provisions that make clear the priority of our efforts. It must be workers. Pensions are not just investments to workers. To a worker, his or her pension is the centerpiece of economic security. {time} 1715 The promise of that pension becomes more precious as workers move closer to their own retirement. It is imperative that our efforts protect older workers. This motion to instruct recognizes that conversions from traditional defined benefit plans to cash balance plans harm older workers. Providing transition protections for older workers should not be a choice for employers but a requirement. Hardworking employees should not be rewarded for their service with a denial of pension benefits. I urge my colleagues to help ensure that older workers' pensions are protected. This motion to instruct also highlights the importance of equity between workers and executives. Under the pension reform bill passed by this House, a pension plan that is less than 80 percent funded would not be allowed to increase benefits or establish new benefits for its workers regardless of the reason for the underfunding.…”