Senate-Approved Transportation Bill Includes Pension Funding Relief Measure

On March 14 the Senate overwhelmingly approved a transportation funding bill that includes an amendment (S. Amdt. 1830) that would ease pension funding rules. Specifically, the provision included in the Moving Ahead for Progress in the 21st Century (MAP-21) Act (S. 1813) would amend section 430(h)(2) of the Internal Revenue Code (IRC) and section 303(h)(2) of the Employee Retirement Income Security Act (ERISA) by adding provisions designed to stabilize the interest rates used to calculate plan liabilities for pension funding purposes. Continue reading this entry at Littler's Employee Benefits Counsel.

Photo credit: Kirby Hamilton

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