The need for pension reform is obvious and immediate: Lots of companies have defaulted on their defined-benefit pension plans, and for many others, the clock is ticking on woefully underfunded liabilities.

The PBGC should have greater flexibility to charge higher premiums to firms generating more risk to the system.

The single employer defined benefit pension system and the Pension Benefit Guarantee Corporation is in crisis and in urgent need of fundamental reforms.

This statement is available here as an Adobe PDF.