Bush/DOE attempt to destroy defined benefit plans slowed by Congress

[papau]

The not in power Dems are still trying - a group of Democratic senators including Minority Leader Harry Reid (D-Nevada) introduced legislation last Thursday to block the pension policy change at the DOE.

More important perhaps, a House Appropriations subcommittee has moved to block the Energy Department from implementing a revamped pension plan for new contractors' workers until Congress has a chance to review it. The directive was inserted into an Energy Department spending bill for the fiscal year beginning October 1. According to Reuters, Congressman David Hobson (R-Ohio), chairman of the subcommittee, said he wanted a chance to review the changes - the DOE recently told contractors it will no longer pay for a traditional defined-benefit pension for newly hired workers, but would pay for a defined contribution plan - and determine their impact on new contractors working for the department.