Rob Portman: “What I said is accurate which is that this bill does address the question of cash balance conversions. It does so in…”

“What I said is accurate which is that this bill does address the question of cash balance conversions. It does so in three very important ways: number one, it addresses the issue of disclosure. It says the disclosure has to be in plain English which is also in their motion to recommit, I understand. It also addresses the issue of notification. It makes sure that not only do we have disclosure but it is notification in advance of what current law requires. It also says, as compared to last year's legislation, that changes to early retirement benefits would also have to be disclosed, which is not current legislation, not even the last year's law. My only point is that in a responsible way we have tried to address this issue, and we have done it in a bipartisan manner.”