Committees in both the House and Senate are holding hearings this week on various aspects of the country's pension system including ways to protect pensions from fraud. The financial health of many of the nation's private pension plans is continuing to decline according to the Pension Benefit Guarantee Corporation, which itself is experiencing deteriorating finances. The Committees will examine both the reasons for the level of underfunding in worker pension plans and possible reforms.
See "Big Pension Plans Fall Further Behind", Albert B. Crenshaw, The Washington Post, June 6, 2005