President Signs Brooks Pension Reform Bill
|Targeted News Service|
Legislation introduced by Congresswoman
"This bipartisan pension reform ensures our rural electric cooperatives, private schools and organizations like the
The legislation ensures that charitable and cooperative associations using multiple employer pension plans are not swept into the Pension Protection Act of 2006 (PPA) funding rules. These rules would require certain charitable and cooperative associations to fund their pension plans at levels commonly associated with high risk plans even though plans operated by these groups contain virtually no risk of default. Charitable and cooperative associations received a temporary exemption from the rules in 2006, which was set to expire in 2017. The legislation makes this exemption permanent but also allows organizations the chance to opt in to the PPA if they choose.
Rep. Brooks introduced the legislation after listening to the concerns of both local and national organizations impacted by the rules. Without action by
"We are so grateful to Congresswoman Brooks for her tireless work on behalf of the thousands of girls who benefit from the Girl Scout Leadership Experience and our staff members who guide them,"
"This finishes the job
The legislation actually reduces the deficit by
* The Jewish Federations of
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