Business Roundtable offers pension reform advice for legislators

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.