House members to hold cash balance hearing

Reps. John Boehner, R-Ohio, chairman of the House Education and the Workforce Committee, and Sam Johnson, R-Texas, chairman of the House Employer-Employee Relations Subcommittee, plan to hold a hearing on cash balance conversions; the date hasn't been set. No hearings have been held on cash balance plans in several years, and the lawmakers hope their hearing will ensure legislation protecting the legality of the hybrid plans and ensure protections for workers, the two House members said in a joint statement. In the Senate, a working group on cash balance plans, led by Sen. Tom Harkin, D-Iowa, intends to include lawmakers from the House, said Michelle Evermore, an aide to Mr. Harkin. Mr. Harkin will hold a second meeting on May 20 to shape the working group.