CONTENTS

CHRONOLOGICAL LIST OF WITNESSES

TUESDAY, June 14, 1983

Jones, Edwin M., Executive Director, Pension Benefit Guaranty Corporation,

accompanied by Jeffery N. Clayton, Administrator, Pension and Welfare

Benefits Program, U.S. Department of Labor.

Prosten, Richard, research director, industrial union department, AFL-CIO,

accompanied by Howard Young, special consultant to the president, United

Automobile Workers; and Thomas F. Duzak, director of insurance, pension
and unemployment benefits department, United Steelworkers of America ....

Hacking, James M., assistant legislative counsel, American Association of

Retired Persons, accompanied by Steven_Zaleznick, legislative representa-

tive, American Association of Retired Persons; and Richard S. Raskin,

consulting_actuary, the Wyatt Co., New York, N.Y., representing the Asso-

ciation of Private Pension and Welfare Plans, Inc...

Bucy, Charles L., assistant general counsel, the LTV Corp., Dallas, Tex.,

representing the ERISA Industry Committee, accompanied by George J.

Pantos, counsel; Paul H. Jackson, consulting actuary, the Wyatt Co., Wash-

ington, D.C., representing the National Small Business Association; and

Donald W. Phillips, director of employee benefits, Beatrice Foods Co., Chica-

go, Ill., representing the National Association of Manufacturers, accompa-

nied by Richard H. Fay, counsel, and Patricia Callahan, director of employ-

ee benefits, National Association of Manufacturers, a panel.........

STATEMENTS

Page

6

33

45

69

American Federation of Labor and Congress of Industrial Organizations, pre-

pared statement..

118

American Trucking Associations, Inc., Bennett C. Whitlock, Jr., president,

prepared statement....

124

Association of Private Pension and Welfare Plans, Inc., Richard Raskin, con-

sulting actuary, prepared statement...

Bucy, Charles L., assistant general counsel, the LTV Corp., Dallas, Tex.,

representing the ERISA Industry Committee, accompanied by George J.

Pantos, counsel; Paul H. Jackson, consulting actuary, the Wyatt Co., Wash-

ington, D.C., representing the National Small Business Association; and

Donald W. Phillips, director of employee benefits, Beatrice Foods Co., Chica-

go, Ill., representing the National Association of Manufacturers, accompa-

nied by Richard H. Fay, counsel, and Patricia Callahan, director of employ-

ee benefits, National Association of Manufacturers, a panel

Prepared statement

Hacking, James M., assistant legislative counsel, American Association of

Retired Persons, accompanied by Steven Zaleznick, legislative representa-

tive, American Association of Retired Persons; and Richard S. Raskin,

consulting actuary, the Wyatt Co., New York, N.Y., representing the Asso-

ciation of Private Pension and Welfare Plans, Inc..

Prepared statement

Interstate Carriers Conference, prepared statement

Jackson, Paul H., vice president, the Wyatt Co., prepared statement

Jones, Edwin M., Executive Director, Pension Benefit Guaranty Corporation,

accompanied by Jeffrey N. Clayton, administrator, Pension and Welfare

Benefits Program, U.S. Department of Labor

Prepared statement

(III)

Page

Machinery and Allied Products Institute, prepared statement.

National Association of Manufacturers, Donald W. Phillips on behalf of,

prepared statement...

National Small Business Association, Paul H. Jackson, on behalf of, prepared

statement..

Pension Benefit Guaranty Corporation, Roger F. Martin, Acting Chairman,
advisory committee, prepared statement

Prosten, Richard, research director, industrial union department, AFL-CIO,

accompanied by Howard Young, special consultant to the president, United

Automobile Workers; and Thomas F. Duzak, director of insurance, pension

and unemployment benefits department, United Steelworkers of America ....

Prepared statement

ADDITIONAL INFORMATION

111

89

84

102

33

36

Communications to:

Nickles, Hon. Don, a U.S. Senator from the State of Oklahoma from:
Comptroller General of the United States, June 13, 1983....
Donovan, Hon. Raymond J., Secretary, Department of Labor, June

13, 1983