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Kline named conferee to Pension Reform Conference CommitteeCongressman is only sophomore to be named to select leadership groupMarch 8, 2006BURNSVILLE – Congressman John Kline (R-MN) today was named a conferee on the conference committee that will iron out pension reform legislation between the House and the Senate so Congress can pass a final, single bill that will assist airlines in fulfilling their promises to employees. Congressman Kline was the lone sophomore to be named to the select group of conferees. The Senate version of the pension legislation includes airline relief while the House version does not. Congressman Kline has been a strong supporter of airline relief and promoter of overhauled pension relief. “The Second District is full of hard-working airline employees that have genuine concerns about the future of their pension plan,” Kline said. “We must address this issue two ways. First, we must make sure airlines can continue to afford participation in our defined benefits system. Second, we must ensure employees are protected by making sure the promises they have been made are backed with well-funded pension plans.” The Pension Protection Act (H.R. 2930) ensures that employers are effectively financing their pension plans and providing their workers with greater disclosure about the status of their benefits. In addition, the legislation protects taxpayers from a possible bailout of the agency that guarantees the pension plans of private companies, the Pension Benefit Guaranty Corporation (BPGC). “For the first time in a generation, we’re poised to update flawed pension funding rules that have placed at risk the retirement security of far too many Americans,” Kline said. “These reforms have been a long time coming, but I am confident the product we will send to President Bush will be worth the wait.”
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