RETIREMENT INCOME INCENTIVES AND
ADMINISTRATIVE SIMPLIFICATION ACT OF 1981

HEARINGS

BEFORE THE

SUBCOMMITTEE ON LABOR

OF THE

COMMITTEE ON

LABOR AND HUMAN RESOURCES
UNITED STATES SENATE

NINETY-SEVENTH CONGRESS

FIRST SESSION

ON

S. 1541

TO AMEND THE EMPLOYEE RETIREMENT INCOME SECURITY
ACT OF 1974 AND THE INTERNAL REVENUE CODE OF 1954 TO
CONSOLIDATE AND SIMPLIFY THE ADMINISTRATION OF THE
PROVISIONS OF LAW RELATING TO RETIREMENT INCOME AR-
RANGEMENTS, TO PROVIDE FOR INCENTIVES FOR PENSION
PLAN COVERAGE AND INCREASED RETIREMENT SAVINGS,
AND FOR OTHER PURPOSES

AND RELATED BILLS

NOVEMBER 4, 9, AND 12, 1981, AND JANUARY 26, 1982

Printed for the use of the Committee on Labor and Human Resources

57-661 O

U.S. GOVERNMENT PRINTING OFFICE

WASHINGTON: 1981

CONTENTS

CHRONOLOGICAL LIST OF WITNESSES

WEDNESDAY, NOVEMBER 4, 1981

Gorton, Hon. Slade, a U.S. Senator from the State of Washington.

Erlenborn, Hon. John N., a Representative in Congress from the State of

Llinois

Hart, Jeff R., executive director, Association of Private Pension and Welfare

Plans, Inc., Washington, D.C., accompanied by Gary Quintiere, legal coun-

sel...

Georgine, Robert A., chairman, National Coordinating Committee for Mul-

employer Plans, accompanied by Jack Curran, legislative director; and

Peter Schmidt, legal counsel...

Greenough, William C., Ph. D., chairman, Subcommittee on Retirement

Policy, Committee for Economic Development, New York, N.Y

James, Robert L., vice president, finance/treasurer, Chemtech Industries, Inc.,

St. Louis, Mo., representing Compensation and Capital, Inc., Chicago, Ill.,

accompanied by Davis H. Roenisch, actuary, Compensation and Capital,

Inc.; and Morton A. Harris, president, Small Business Council of America,

Inc.. Columbus, Ga., a panel

MONDAY, NOVEMBER 9, 1981

Moran, Charles A., senior vice president, Manufacturers Hanover Trust Co.,

and chairman of the board and president of Lionel P. Edie and Company,

Inc., and chairman of the Employee Benefit Services Committee of the

Trust Division of the American Bankers Association; Richard H. Loeber,

vice president, group division, Aetna Life and Casualty, Hartford, Conn.,

representing American Council of Life Insurance; and Theodore R. Groom,

Esq., Washington, D.C., representing a consortium of insurance groups and

the Western Conference of Teamster Pension Trust Fund, accompanied by

Gary Ford, Esq., a panel.....

Baker, John W., executive director, National Association of Pension Consult-

ants and Administrators, Inc., Atlanta, Ga., and Frederick D. Hunt, Jr.,

executive director, Society of Professional Benefit Administrators, Washing-

ton, D.C

Clark, Edward P., vice president of operations, Turner Construction Co., New

York, N.Y., representing the Associated General Contractors of America,

and accompanied by Denis M. Bradshaw and Dan Kenise, AGC staff..

Kellison, Stephen G., executive director, American Academy of Actuaries,

Washington, D.C., accompanied by Gerald Richmond, chairman, subcommit-

tee on ERISA; and Vincent Rubino, vice chairman, government affairs

committee, American Society of Pension Actuaries, New York, N.Y., a

panel.......

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

Retired Persons, National Retired Teachers Association, Washington, D.C.,

accompanied by Steve Zaleznick; Kathy H. Wilson, National chair, National

Women's Political Caucus, Washington, D.C., accompanied by Carol Bros;

and Karen W. Ferguson, director, Pension Rights Center, Washington, D.C.,

accompanied by Stephen Bruce, deputy director and staff attorney, a panel..