WASHINGTON--(BUSINESS WIRE)--The National Conference on Public Employee Retirement Systems (NCPERS) will present its Legislator of the Year Award to Sen. Tom Harkin, Iowa Democrat and Chairman of the Senate Health, Education, Labor, & Pensions Committee, at the NCPERS Legislative Conference in Washington, DC on Monday, January 28.
“We applaud Sen. Harkin for focusing national attention on America’s retirement security crisis and the vital role defined pension benefits must play if we are to effectively address that crisis,” said Hank Kim, Esq., NCPERS Executive Director and Counsel. “Sen. Harkin’s bold proposal for establishing USA Retirement Funds would help restore defined benefit pensions to the private sector. That, along with his proposals for strengthening Social Security, would help restore the traditional three-legged stool of retirement security – Social Security, a defined benefit pension and personal savings including 401(k)s and IRAs. We look forward to working with Sen. Harkin and other policymakers to make retirement security a reality for all Americans.”
Sen. Harkin’s USA Retirement Funds proposal closely resembles NCPERS’ own Secure Choice Pension (SCP) proposal. The SCP is envisioned as a state-based public-private partnership to make affordable, easy-to-administer pension plans available to private-sector employers – pensions that would guarantee covered workers lifetime retirement income at no cost to taxpayers. The new California Secure Choice Retirement Savings Trust Act incorporated a number of SCP concepts. Other states are also looking seriously at the model.
Also featured at the NCPERS Legislative Conference will be Josh Gotbaum, Executive Director of the Pension Benefit Guaranty Corporation (PBGC), who will address legislative and regulatory changes necessary to promote regeneration of defined benefit pensions in the private sector.
The National Conference on Public Employee Retirement Systems (NCPERS) is the largest trade association for public sector pension funds, representing more than 550 funds throughout the United States and Canada. It is a unique non-profit network of public trustees, administrators, public officials and investment professionals who collectively manage nearly $3 trillion in pension assets. Founded in 1941, NCPERS is the principal trade association working to promote and protect pensions by focusing on advocacy, research and education for the benefit of public sector pension stakeholders.