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NEWS RELEASE
February 19, 2010
New video calls on Congress to act on pension funding reliefVideo links temporary pension relief to jobs and economic securityWASHINGTON, DC — A new video released today and disseminated widely online makes an urgent case for pension funding relief and is the latest demonstration of urgency for congressional action. Saying "We need pension funding relief and we need it now," the video provides information for viewers to contact Congress to make their voices heard about this urgent, yet often overlooked issue. Due to unprecedented economic turmoil and market volatility, pension plans are facing massive losses in their asset values. As a result, billions of dollars that could be used to save or create jobs are scheduled to be diverted into pension plans unless Congress acts quickly. Today's video release comes on the heels of a telephonic conference call held earlier this month on which retirement experts, employers, and Members of Congress joined voices to raise awareness about the need for temporary pension relief. The call featured Representative Earl Pomeroy (D-ND), who has introduced pension relief legislation in Congress with Rep. Pat Tiberi (R-OH), along with James Klein, President of the American Benefits Council; Katy Beh Neas, Vice President for Government Relations at Easter Seals; Kathy Cloninger, CEO, Girl Scouts of America; and Barbara Crane, RN, President of the National Federation of Nurses. "Temporary pension funding relief legislation will preserve jobs, promote economic recovery and alleviate the deficit without spending any taxpayer money," said James A. Klein, President of the American Benefits Council. "As the video says, the clock is ticking. Congress must enact pension funding relief immediately." For more information on pension relief legislation and to view the new video, please visit: http://www.americanbenefitscouncil.org/issues/dbfunding.cfm To arrange an interview with Council staff, please contact Jason Hammersla, Council director of communications, at jhammersla@abcstaff.org or by phone at 202-289-6700 (office) or (202) 253-5458 (cell).
The American Benefits Council is the national trade association for companies concerned about federal legislation and regulations affecting all aspects of the employee benefits system. The Council's members represent the entire spectrum of the private employee benefits community and either sponsor directly or administer retirement and health plans covering more than 100 million Americans.
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