Julio Portalatin, president and CEO of Mercer, is urging Congressional leaders to reconsider the increases in premiums to the Pension Benefit Guaranty Corp. authorized with the passage of the Bipartisan Budget Act of 2015.
In a letter to the majority and minority leaders of both chambers of Congress, Portalatin called the increases “unnecessary” and “counterproductive” to PBGC’s goal of protecting and enhancing the country’s retirement security.
Pressed up against the threat of defaulting on its obligations, the budget deal passed the House and then the Senate in a matter of days.
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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.
