Tag Archives: cash balance plan

Today in ERISA History

June 5, 2000 – The Senate holds hearings on cash balance plans. While this may not seem historic in 2012 when cash balance plans have become an accepted type of plan design, in 2000, during the Senate hearing, cash balance plans are called a fatally flawed plan design that violate the Internal Revenue Code, the Age Discrimination in Employment Act, and ERISA.

The hearings were held before the Senate’s Special Committee on Aging, and generates a 257-page report with the title “The Cash Balance Condundrum: How to Promote Pensions Without Harming Participants“, S. Hrg. 106-849.