On December 19, 2004, Rep. Rob Andrews (D-NJ) introduced pension reform legislation (H.R. 5398) containing a provision which would create a hybrid retirement plan consisting of both a traditional defined benefit plan and a 401(k) defined contribution plan, called the DB(k). The DB(k) concept, found in Title V of the legislation, was developed by ASPPA and The Principal Group to encourage the adoption of defined benefit plans by small and mid-sized businesses by removing unnecessary administrative and regulatory impediments. Andrews also introduced a companion pension reform bill amending ERISA provisions. (H.R. 5397)

On April 8, 2004, the Senate voted to support HR 3108, the bill to temporarily replace the 30-year Treasury bond rate with a corporate bond rate for purposes of calculating the deficit reduction contribution (and for PBGC purposes), 78-19. The House supported the bill, 336-69, on April 2. Thank you to those who contacted senators to support the bill. The President signed it on April 10. [Pension Funding Equity Act of 2004]