The Problems With Pensions

Rep. Earl Pomeroy (D-North Dakota) said at the same briefing that “If left unaddressed, the issue of pension funding could throw a roadblock into our economic recovery.” Pension funding relief “would provide employers more cash on hand to save and create jobs and to inject into the economy, while giving workers enhanced job security and strengthened pension plans over the long term.” ABC says it’s backing the swift enactment of H.R. 3936, the Preserve Benefits and Jobs Act, introduced in the House by Pomeroy and Pat Tiberi (R-Ohio), which in December 2009 was referred to the House Subcommittee on Health, Employment, Labor, and Pensions (HELP). ABC also notes similar relief is included in various legislative proposals developed by House Education and Labor Committee Chairman George Miller (D-California) and House Republican Leader John Boehner (R-Ohio).