Bush Administration Seeks to Overhaul Pension Laws in 2005
On January 11, Labor Secretary Elaine Chao unveiled the Bush administration's proposal to completely revise the existing benefit pension system (also known as traditional pensions), and that includes the Pension Benefit Guaranty Corporation (PBGC). Since legislation is likely to be introduced reflecting these proposals throughout 2005, clients who provide traditional pensions to employees (or who have unions that provide such pensions) may wish to have their voices heard about proposed legislation. The Government Relations and [Employee Benefits] Practice Groups at Buchanan Ingersoll PC can assist clients in navigating the legislative process and expressing their views to the decision makers.
The Buchanan Ingersoll team of lobbyists, including former members of the House and staff of the House of Representatives and Senate, collaborating with our employee benefits and tax focused lawyers, know whom and how to contact in the Congress, the Treasury and the Labor Department. This team will guide clients in identifying issues and articulating positions at the formative stage of policymaking. Businesses that offer defined benefit plans, such as airlines, financial institutions, and manufacturing companies, may be particularly interested in learning how they can speak out on the future of traditional pension plans.