Rep. Marcy Kaptur, D-Ohio, is resurrecting a 7-year-old bill that would force employers to share control of pension plans with employees. The 1989 bill, sponsored by Rep. Peter J. Visclosky, D-Ind., prompted a storm of protest from some of the nation's largest companies; their forceful lobbying efforts killed the measure. But proponents of the new bill think organized labor could push this idea through.
In its draft form, the bill requires all assets of single-employer pension plans to be held in trust by a joint board of trustees, similar to those for multiemployer plans. The board would have two or more trustees from each side.