Pension Funding

Since the financial crisis of 2008, businesses continue to face unexpectedly large pension contributions. The drop in the value of pension plan assets, coupled with the current credit crunch, has resulted in companies facing pension contributions that are double or triple the amount of the expected contribution. The Chamber successfully lobbied Congress to enact the Worker, Retiree, and Employer Recovery Act of 2008 and the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010. Additional measures are needed, however, and the Chamber will continue to work with Congress to ensure their passage.