CONTENTS

Hearing held in Washington, DC on February 25, 1986..........

Text of H.R. 3098........

Text of H.R. 3594.........

Statements of:

Anderson, William B., board member, National Federation of Independ-
ent Business and president, Matrix, Inc........

Erlenborn, John N., representing the U.S. Chamber of Commerce
Guildroy, Jack, member, National Legislative Council of the American
Association of Retired Persons

King, James A., director of industrial relations, Borden Co., representing
the National Association of Manufacturers

Page

1

172

244

116

71

50

90

McCormick, Deane E., president, Association of Private Pension & Wel-
fare Plans and staff vice president for taxes, Litton Industries..
Naughton, John M., executive vice president, Massachusetts Mutual Life
Insurance Co., representing the American Council of Life Insurance.......
Shannon, Amy, research associate, Pension Rights Center, accompanied
by Karen Ferguson, director, Pension Rights Center......

Swain, Frank S., chief counsel for advocacy, U.S. Small Business Admin-
istration.......

Prepared statements, letters, supplemental materials, et cetera:

102

141

48

5

American Academy of Actuaries, subcommittee on single employer plans,
statement of...........

331

American Bankers Association, statement of.....

340

Anderson, William B., president, Matrix, Inc., on behalf of the National
Federation of Independent Business, prepared statement of..............
BellSouth Corp., statement of.............

119

347

Chandler, Hon. Rod, a Representative in Congress from the State of
Washington, opening statement of.....

32

Duffy, Capt. Henry A., president, Air Line Pilots Association, prepared
statement of.............

37

ERISA Industry Committee, the, Washington, DC, written statement of....
Erlenborn, John N., representing the U.S. Chamber of Commerce, pre-
pared statement of..

367

75

Guildroy, Jack, member, National Legislative Council, American Associa-
tion of Retired Persons, prepared statement of.........

53

Hoffman, William S., Ph.D., director, Social Security Department, Inter-
national Union, UAW, statement of...............

384

Investment Company Institute, the........

392

Kass, Dennis, assistant secretary for Pension and Welfare Benefit Admin-
istration, statement of

327

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
to Chairman Hawkins, dated March 5, 1986............
McCormick, Deane E., president, Association of Private Pension & Wel-
fare Plans, prepared statement of..............

94

McGlotten, Robert, director, Department of Legislation, American Feder-
ation of Labor and Congress of Industrial Organizations, letter to
Chairman Clay, dated March 10, 1986...........

382

105

344

Naughton, John M., executive vice president, Massachusetts Mutual Life
Insurance Co., on behalf of the American Council of Life Insurance,
prepared statement of............

144

Roukema, Hon. Marge, a Representative in Congress from the State of
New Jersey, opening statement of..............

3

Swain, Frank S., chief counsel for advocacy, U.S. Small Business Administration, prepared statement of..........

Statement of:

Bartlett, Dwight K., III, president, Mutual of America, statement of...
"Deferred Tax Liabilities and Individual Retirement Accounts, or IRA's
Cost the Treasury Less Than You Think", article entitled..........
Dennis, William J., Jr., NFIB Research and Education Foundation,
"Small Business Employee Benefits," booklet entitled....
Diannitto, Sam, Jr., president, National Conference on Public Employee
Retirement Systems, Columbus, OH, letter to "Dear Representative,"
dated February 6, 1986 enclosing "A Statement on National Pension
Policy," booklet entitled.

Ferguson, Karen, director, Pension Rights Center, Washington, DC, letter
to Chairman Clay, dated February 25, 1986 enclosing "The Case of the
Disappearing Pension," booklet entitled............

Georgine, Robert A., chairman, National Coordinating Committee for
Multiemployer Plans, Washington, DC, statement of...........
Holan, Walter, president, Profit Sharing Council of America, statement of
National Rural Electric Cooperative Association, Washington, DC, state-
ment of..............

Southland, Corp., the, statement of ...........

9

415

408

449

425

509

434

529

501

554

Teachers Insurance and Annuity Association-College Retirement Equities
Fund, (TIAA-CREF), statement of ...............

564

Whittington, Verle G., vice president, employee relations, Shell Oil Co., written statement of.

539