Mercer is supporting H.R. 4955, the Pension and Budget Integrity Act, which would prevent Congress from counting premiums paid by Defined Benefit plans sponsors to the Pension Guarantee Corporation (PBGC) as revenue to offset spending. On June 16, Mercer President & CEO Julio Portalatin visited Washington, DC, to press lawmakers on this and other crucial policy issues.
Days after expressing Mercer’s support for the bill in a letter to House and Senate leadership, Julio met with key members of the House Ways and Means Committee and Senate Finance Committee, which have jurisdiction over taxes, retirement issues and health care policy: Congressman John Larson (Democrat from Connecticut), Senator Tom Carper (Democrat from Delaware), Senator Dean Heller (Republican from Nevada), Senator Ben Cardin (Democrat from Maryland) and the tax counsel for Senator Johnny Isakson (Republican from Georgia).
The premium increases make it more difficult for employers to maintain pension plans, Mercer argues, threatening Americans’ retirement security.
Julio commented of the productive day in DC: "We had the opportunity to meet with lawmakers to discuss the practical implications of their actions, or in some cases, inaction, on our company and clients."
"Whether it’s retirement security, health care reform or taxes, we need to be an active voice on some of the most pressing issues facing the US.”