Senate Finance Committee Chairman Charles E. Grassley , R-Iowa, said...

Senate Finance Committee Chairman Charles E. Grassley, R-Iowa, said today it is imperative that Congress pass a broad pension reform package that has stalled in the Senate. "Without reform, we'll default to the 30-year Treasury rate (for calculating pension liabilities) and deficit reduction contribution rules" that employers have fought hard to eliminate, he said at a meeting at the U.S. Chamber of Commerce. Also, "without reform we'll see more pension funding crises and an even louder public outcry for stronger action."