AND THE RETIREMENT UNIVERSAL SECURITY HEARING BEFORE THE SUBCOMMITTEE ON OF THE COMMITTEE ON EDUCATION AND LABOR NINETY-NINTH CONGRESS SECOND SESSION ON H.R. 3098 and H.R. 3594 HEARING HELD IN WASHINGTON, DC, ON FEBRUARY 25, 1986 Serial No. 99-133 Printed for the use of the Committee on Education and Labor 63-953 O U.S. GOVERNMENT PRINTING OFFICE WASHINGTON 1986 For sale by the Superintendent of Documents, Congressional Sales Office AND THE RETIREMENT UNIVERSAL SECURITY ARRANGEMENTS ACT OF 1985 HEARING BEFORE THE SUBCOMMITTEE ON OF THE COMMITTEE ON EDUCATION AND LABOR HOUSE OF REPRESENTATIVES NINETY-NINTH CONGRESS SECOND SESSION ON H.R. 3098 and H.R. 3594 HEARING HELD IN WASHINGTON, DC, ON FEBRUARY 25, 1986 Serial No. 99-133 Printed for the use of the Committee on Education and Labor 63-953 O U.S. GOVERNMENT PRINTING OFFICE WASHINGTON 1986 For sale by the Superintendent of Documents, Congressional Sales Office CONTENTS Page Statements of: Anderson, William B., board member, National Federation of Independ- Erlenborn, John N., representing the U.S. Chamber of Commerce King, James A., director of industrial relations, Borden Co., representing Swain, Frank S., chief counsel for advocacy, U.S. Small Business Admin- Prepared statements, letters, supplemental materials, et cetera: 116 71 50 90 102 141 48 American Bankers Association, statement of.. 340 Anderson, William B., president, Matrix, Inc., on behalf of the National 119 ERISA Industry Committee, the, Washington, DC, written statement of.... Erlenborn, John N., representing the U.S. Chamber of Commerce, pre- Guildroy, Jack, member, National Legislative Council, American Associa- tion of Retired Persons, prepared statement of... Hoffman, William S., Ph.D., director, Social Security Department, Inter- King, James A., assistant general counsel, Borden, Inc., on behalf of the National Association of Manufacturers, prepared statement of.. Loyd, Laymond B., president, Loyd Pension Services, Edmond, OK, letter McCormick, Deane E., president, Association of Private Pension & Wel- 382 McGlotten, Robert, director, Department of Legislation, American Feder- 344 Naughton, John M., executive vice president, Massachusetts Mutual Life Insurance Co., on behalf of the American Council of Life Insurance, Roukema, Hon. Marge, a Representative in Congress from the State of 3 |