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ACTION ALERT
March 21, 2006
Urge Republican Senators to sign on to "Dear Colleague" letter on hybrid plan reformAction Requested: Please contact your Republican Senators and urge them to add their signature to a "dear colleague" letter now being circulated by Senator Richard Burr (R-NC). The deadline for sign-on is Friday, March 24. Background:The retirement bill conference is well underway and conferees will soon begin resolving the hybrid plan provisions of the House-passed Pension Protection Act (H.R. 2830) and the Senate-passed Pension Security and Transparency Act (S. 1783). A Council side-by-side chart illustrates the bills' differences with regard to hybrid plans. The Council continues to support a comprehensive, design-based solution — without mandates or litigation carve-outs — applicable to existing and future plans. Hybrid plans are essential to the continued viability of the employer-sponsored defined benefit pension system. The Council has prepared an updated set of talking points to help you understand and communicate the urgency of the situation to the conferees. Senator Burr is now circulating a "dear colleague" letter to his fellow Republican Senators urging them to sign on in support of a comprehensive, design-based solution that will bring legal certainty to these plans. Please help: Use the Council's Capitol Connection Center to enter your zip code and find the contact information for any Republican Senators in your area. Ask them to sign on to the "dear colleague" letter by contacting Celia Sims in Sen. Burr''s office at (202) 224-3154. For more information: Contact Lynn Dudley, Council vice president, retirement policy, at (202) 289-6700.
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