Disaster Relief Fund

Victory is sweet with passage of  Pension Relief

The House and Senate have passed critical relief for single- and multi-employer private pension plan sponsors—including NEA affiliates--to deal with dramatic market losses. The legislation will help state affiliates avert staff layoffs.

It’s not certain when the bill will go to the President for signature.

NSO President Chuck Agerstand said, “We’ve been fighting this battle for a long time. Thanks to your messages to members of Congress, we scored a victory,”
For single-employers, the pension relief bill provides:

• An extended period for single-employer defined benefit plans to amortize certain shortfall amortization bases.
• The application of an extended amortization period to plans subject to prior law funding rules.
• The suspension of certain funding level limitations.
• The temporary allowance of election to apply balances against minimum required contribution.

Multiple employers will see relief with:

• The optional use of 30-year amortization periods.
• Optional longer recovery periods for plans in endangered or critical status.
• The modification of certain amortization extensions under prior law.
• An alternative default schedule for plans in endangered or critical status.
• A transition rule for certifications of plan status.

2011 Winter Advocacy Retreat

NSO is seeking proposals for the 2011 Winter Advocacy Retreat. If you have an area of expertise to share with your colleagues from around the country to help them become better, stronger advocates, please complete the Request for Proposals (RFP) and return it to Lynn Adler, NSO Vice President for Program by July 25, 2010.   

Request for Proposal