Budget Reconciliation and the PBGC (CRS Report for Congress)
| Release Date |
Revised April 24, 2006 |
| Report Number |
RS22315 |
| Report Type |
Report |
| Authors |
Neela K. Ranade, Domestic Social Policy Division |
| Source Agency |
Congressional Research Service |
| Older Revisions |
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Summary:
The House and the Senate passed budget reconciliationbills H.R. 4241 and S. 1932 in the first session of the 109th Congress. These includeddiffering provisions for increasing PBGC premiums. Conference agreement wasreached on the two bills, and the Deficit Reduction Act of 2005 (P.L. 109-171) wassigned by President Bush on February 8, 2006. The pension provisions of P.L. 109-171are estimated to save $417 million in 2006 and $3.56 billion over 2006 - 2010. Twobroad pension bills were introduced in 2005 to reform funding rules for the definedbenefit pension system and to raise PBGC premiums. The House and the Senate passedH.R. 2830 and S. 1783, respectively, but conference agreement has not yet been reachedon these bills.
