The National Coordinating Committee for Multiemployer Plans, which led the labor/management coalition lobbying effort, provided an 11-page explanation of the 900-page, highly technical law. A 33-page, side-by-side comparison of the new law and existing pension law published by the Groom Law Group, legal advisors to the Coalition, is also available. Finally, there is a 386-page analysis of the measure prepared by the Congress's Joint Committee on Taxation.
Under the terms of the 2004 pension reform bill, new funding notices will be going out by the end of this month to all pension plan participants, beneficiaries, unions, and contributing employers - and those notices also will be on file at the Pension Benefit Guaranty Corp. (PBGC). MCAA said that it is exploring ways to inventory those notices on file at PBGC.
Publication date: 09/25/2006