Kevin Brady: “I will be glad to provide my perspective. The gentleman from Pennsylvania (Mr. Kelly) is correct. The study was removed.…”

“I will be glad to provide my perspective. The gentleman from Pennsylvania (Mr. Kelly) is correct. The study was removed. The question of PBGC premium levels is not directly within the jurisdiction of the Ways and Means Committee. Here, in the House, the committee of jurisdiction is the Education and the Workforce Committee. I have had numerous discussions with the excellent chairwoman of the committee, Dr. Foxx of North Carolina. She knows our interest in determining the proper premium levels for these organizations. Premiums, as you know, that are too low threaten the ability of the PBGC to provide protections for the workers and beneficiaries. At the same time, if premiums are set too high, they really impose an inappropriate burden on pension plans and the workers who participate in them. This issue will come up again as we negotiate a final agreement with the Senate on the overall retirement and savings package, because many Senators, too, are also interested in finding the right level of premiums. So I would say to the gentleman that I have full confidence that Chairwoman Foxx and her colleagues as the committee of jurisdiction will be engaged in working on the overall retirement security agreement and will work to provide appropriate input in determining the right outcome.”