Blogging Employee Benefits

April 7, 2006

House Instructs Its Conferees on Cash Balance Plans

Filed under: Cash Balance, Legislation — Fuguerre @ 9:54 am

The 7th Circuit’s decision on the Cooper v. IBM cash balance plan age discrimination case is expected soon, sooner than we now expect to see final legislative action on pending pension reform that includes provisions addressing cash balance plans. Whether or not the appellate court’s word on the issue will influence the legislation remains to be seen. Meanwhile, by a vote of 248-178, the House has instructed its conferees on the pension bill to accept the Senate’s version of the cash balance plan provisions, which reflect Administration positions on safeguards needed against benefit wearaway in the conversion of a traditional defined benefit plan to a cash balance plan.

1 Comment »

  1. Other than meaningless instructions to the conferees, the conference on the pension bill has not adavanced. I guess there goes the April 15th deadline.

    Comment by Chris — April 7, 2006 @ 10:24 am

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