The Bipartisan Budget Act of 2015, passed Wednesday by the House of Representatives, is causing concern in retirement circles after a pension provision was added that raises the amount of money employers must pay to the Pension Benefit Guaranty Corp. for pension insurance.
“For the third time in four years, Congress has hiked pension premiums to pay for unrelated spending priorities, without regard for what it means to employers, workers and retirees,” said James Klein, president of the American Benefits Council. “Raising premiums every time Congress needs several billion dollars must stop, and stop now.”
