Hatch Introduces New Legislation For Pension Reform

Law360, New York (July 9, 2013, 5:21 PM EDT) -- Sen. Orrin Hatch, R-Utah, on Tuesday introduced legislation to reform pension funding for state government and small-business employees, in part through new insurer-managed plans, saying it would address a public pension debt "crisis" and help to secure retirement savings for millions of workers.

The bill, known as the Secure Annuities for Employee Retirement Act, or SAFE Act, would streamline current pension programs and create a number of tools to secure workers' retirement savings, including two new types of pension plans, according to the senator.

The bill,...
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