ROCKVILLE, Md. — The Mechanical Contractors Association of America (MCAA) reports that proposals are being readied for a new round of pension reform bills in Congress.
Reps. Benjamin L. Cardin (D-Md.) and Rob Portman (R-Ohio) are said to be preparing another pension reform measure. Proposals are being developed to consider multi-employer plan amendments to the Employee Retirement Income Security Act (ERISA), allowing plans to amortize stock market losses from 1999 through June 2003 over 30 years, which would be up from the 15 years currently allowed.