The House passed S. 1932, the Deficit Reduction Act, as modified by the Senate. The president is expected to sign the bill.
The bill shores up the Pension Benefits Guarantee Corporation by increasing employer premiums from $19 to $30 per participant, starting in 2006; increasing the premium paid by managers of multi-employer pension plans from $2.60 to $8.00 per participant, starting in 2006; and charging employers termination premiums. See Statement by Education & the Workforce Committee Chairman John Boehner , Feb. 1, 2006.