Political Quotes

Arlen Specter: “Mr. Kilberg. I have a great deal of respect for Mr. Keightley, but both Mr. Ford and I disagree with his opinion, the…”

On the recordJanuary 22, 2003
Mr. Kilberg. I have a great deal of respect for Mr. Keightley, but both Mr. Ford and I disagree with his opinion, the restoration or the authority to restore a plan, as stated in Section 4047. And while Mr. Ford was general counsel to PBGC, I have had the honor of being solicitor of the Department of Labor, and I was solicitor in 1974, when the statute was passed and the initial restoration authority language was put in. It is very, very broad. It allows the PBGC to restore a plan when it is to be terminated or is in the process of termination. So a plan does not actually have to have been terminated in order to have it restored.
Said by
Arlen Specter
Democratic · Pennsylvania
Source
govinfo.gov

Editor's note · Context

Discussing the authority of the PBGC to restore pension plans during Senate floor debate.

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