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Benefits Committee Supports Women's Pension Law.

In a letter to Sen. John Ashcroft (RMo.), FEI's Committee on Benefits Finance voiced its support for the Pension Opportunities for Women's Equality in Retirement Act "as a clear and thoughtful approach to ensuring the retirement security of American women." The letter, written by chairman Frank Becker, noted that the committee believes "the proposal enhances and safeguards the pension needs of women, balances those needs with that of employers and evolves rather than devolves America's retirement security system."

"Women represent 36 percent of all corporate finance executives and more than 10 percent of all CFOs in the United States," the letter observes. "This number is growing and will continue to grow as America moves into the New Economy of the 21st Century. As the premier financial professional association, FEI recognizes the imperative to make equitable retirement security for all females. The POWER Act will successfully accomplish this goal."

The committee has cited two provisions in the proposed law for special mention: the increase in benefit and compensation limits, and the repeal of portability restrictions.

"FEI believes that these provisions could significantly improve the position of women with regard to retirement security and encourage employers to provide pension benefits," the letter states.
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Title Annotation:Financial Executives Institute
Publication:Financial Executive
Article Type:Brief Article
Geographic Code:1USA
Date:Jul 1, 2000
Previous Article:SAB 101 Scheduled To Go Into Effect.
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