The Business Roundtable, a Washington-based group of blue-chip company CEOs, issued a seven-point set of principles for lawmakers to consider when drafting pension reform legislation. The roundtable wants reforms to ensure companies have a predictable method for valuing liabilities; give companies flexibility to contribute more in good economic times; minimize volatility in the funding rules; not disrupt the U.S. economy; provide timely and appropriate information to participants about the funding level of their pension plans; permit companies to offer hybrid pension plans; and ensure that financially weak companies do not unnecessarily burden the PBGC. The principles were issued after the Bush administration's defined benefit reform proposals announced on Monday.
Business Roundtable offers pension reform advice for legislators
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