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For Immediate Release
Office of the Press Secretary
April 10, 2004
Statement on H.R. 3108
Statement by the Press Secretary
On Saturday, April 10, 2004, the President signed into law:
H.R. 3108, the "Pension Funding Equity Act of 2004," which establishes a two-year temporary replacement of the benchmark interest rate for determining funding liabilities of private sector pension plans; establishes temporary alternative minimum funding requirements for certain underfunded pension plans; and allows certain multiemployer plans to temporarily delay the amortization of specified losses.
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