Congress must clarify that cash balance and other hybrid pension plans...

Congress must clarify that cash balance and other hybrid pension plans do not discriminate against older workers, James M. Delaplane Jr., partner at the law firm of Davis and Harman and former vice president of retirement policy at the American Benefits Council, testified today before a House panel. Mr. Delaplane warned that without congressional action, employers might be forced to shut down their cash balance plans and "Americans will have lost a retirement vehicle that delivers higher benefits to the vast majority of employees." House Education and Workforce Committee Chairman John Boehner, R-Ohio, who presided over the hearing, said that lawmakers need to make sure "cash balance plans aren't forced into extinction at the expense of the interests of worker retirement security."