Lawmakers have drafted legislation to create a new office withinthe Treasury Department, the Pension RehabilitationAdministration.

It would allow pension plans to borrow money to remainsolvent while providing retirement benefits for retirees andworkers.

According to a report in Chief Investment Officer, under theproposed program, pension plans would borrow money from the PRA anduse it to buy conservative investments to cover the cost of payingcurrent retiree benefits each month.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.