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GOVERNMENT PRINTING OFFICEWASHINGTON
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For sale by the Superintendent of Documents, U.S. Government Printing OfficeInternet: bookstore.gpo.govPhone: toll free (866) 512–1800; DC area (202) 512–1800Fax: (202) 512–2250Mail: Stop SSOP, Washington, DC 20402–000193-386 PDF
2004
EXAMINING LONG-TERM SOLUTIONS TO REFORM AND STRENGTHEN THE DEFINED BENEFIT PENSION SYSTEM
HEARING
BEFORE THE
SUBCOMMITTEE ON EMPLOYER-EMPLOYEE RELATIONS
OF THE
COMMITTEE ON EDUCATION AND THE WORKFORCE U.S. HOUSE OF REPRESENTATIVES
ONE HUNDRED EIGHTH CONGRESS
SECOND SESSION April 29, 2004
Serial No. 108-55
Printed for the use of the Committee on Education and the Workforce
(
Available via the World Wide Web: http://www.access.gpo.gov/congress/house or Committee address: http://edworkforce.house.gov
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(II)
COMMITTEE ON EDUCATION AND THE WORKFORCE
JOHN A. BOEHNER, Ohio,
Chairman
Thomas E. Petri, Wisconsin,
Vice Chairman
Cass Ballenger, North Carolina Peter Hoekstra, Michigan Howard P. ‘‘Buck’’ McKeon, California Michael N. Castle, Delaware Sam Johnson, Texas James C. Greenwood, Pennsylvania Charlie Norwood, Georgia Fred Upton, Michigan Vernon J. Ehlers, Michigan Jim DeMint, South Carolina Johnny Isakson, Georgia Judy Biggert, Illinois Todd Russell Platts, Pennsylvania Patrick J. Tiberi, Ohio Ric Keller, Florida Tom Osborne, Nebraska Joe Wilson, South Carolina Tom Cole, Oklahoma Jon C. Porter, Nevada John Kline, Minnesota John R. Carter, Texas Marilyn N. Musgrave, Colorado Marsha Blackburn, Tennessee Phil Gingrey, Georgia Max Burns, Georgia George Miller, California Dale E. Kildee, Michigan Major R. Owens, New York Donald M. Payne, New Jersey Robert E. Andrews, New Jersey Lynn C. Woolsey, California Rube´n Hinojosa, Texas Carolyn McCarthy, New York John F. Tierney, Massachusetts Ron Kind, Wisconsin Dennis J. Kucinich, Ohio David Wu, Oregon Rush D. Holt, New Jersey Susan A. Davis, California Betty McCollum, Minnesota Danny K. Davis, Illinois Ed Case, Hawaii Rau´l M. Grijalva, Arizona Denise L. Majette, Georgia Chris Van Hollen, Maryland Tim Ryan, Ohio Timothy H. Bishop, New YorkPaula Nowakowski,
Staff Director
John Lawrence,
Minority Staff Director
SUBCOMMITTEE ON EMPLOYER–EMPLOYEE RELATIONS
SAM JOHNSON, Texas,
Chairman
Jim DeMint, South Carolina,
Vice Chairman
John A. Boehner, Ohio Cass Ballenger, North Carolina Howard P. ‘‘Buck’’ McKeon, California Todd Russell Platts, Pennsylvania Patrick J. Tiberi, Ohio Joe Wilson, South Carolina Tom Cole, Oklahoma John Kline, Minnesota John R. Carter, Texas Marilyn N. Musgrave, Colorado Marsha Blackburn, Tennessee Robert E. Andrews, New Jersey Donald M. Payne, New Jersey Carolyn McCarthy, New York Dale E. Kildee, Michigan John F. Tierney, Massachusetts David Wu, Oregon Rush D. Holt, New Jersey Betty McCollum, Minnesota Ed Case, Hawaii Rau´l M. Grijalva, Arizona George Miller, California,
ex officio
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(III)
CONTENTS
Page
Hearing held on April 29, 2004..............................................................................1Statement of Members: Andrews, Hon. Robert, Ranking Member, Subcommittee on Employer-Employee Relations, Committee on Education and the Workforce..........3Johnson, Hon. Sam, Chairman, Subcommittee on Employer-Employee Re-lations, Committee on Education and the Workforce................................1Prepared statement of...............................................................................3Statement of Witnesses: Ghilarducci, Teresa, Ph.D, Faculty of Economics, University of Notre Dame, Notre Dame, IN.................................................................................81Prepared statement of...............................................................................83Heaslip, Greg, Vice President, Benefits, PepsiCo, Inc., Purchase, NY........17Prepared statement of...............................................................................18Iwry, J. Mark, Esq., Non-Resident Senior Fellow, The Brookings Institu-tion, Washington, DC...................................................................................21Prepared statement of...............................................................................24Kent, Kenneth A., Academy Vice President, Pension Issues, American Academy of Actuaries, Washington, DC.....................................................5Prepared statement of...............................................................................7Letter submitted for the record................................................................45Lynch, Timothy P., President and CEO, Motor Freight Carriers Associa-tion, Washington, DC...................................................................................66Prepared statement of...............................................................................68Miller, John S. (Rocky), Jr., Partner, Cox, Castle & Nicholson LLP, Los Angeles, CA...................................................................................................73Prepared statement of...............................................................................74
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