An amendment to ERISA that would redefine how the Pension Benefit Guaranty Corporation enforces regulation 4062(e) passed the Senate committee on Health, Education, Labor and Pensions by a bipartisan voice vote.
The new language would restrict PBGC's enforcement of the controversial 4062(e) regulation. PBGC recently announced a moratorium on the enforcement of 4062(e) through the end of 2014.
Introduced by Sen. Tom Harkin, D-Iowa, the proposed amendment addresses the specific concerns industry interest groups have raised to the Departments of Labor, Commerce and Treasury, which oversee PBGC.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
