Published on -7/22/2013, 11:34 AM
Rural communities often rely on cooperatives and nonprofits to conduct community business, and their employees rely on pensions provided by these communities.
The pension plans used by rural cooperatives and nonprofits pose little risk of the employer failing to pay benefits, and were therefore granted temporary exemption from onerous regulations in the Pension Protection Act of 2006.
If Congress doesn't act, these exemptions soon will expire, meaning rural cooperatives and nonprofits would be unable to continue providing pension benefits on which many families rely.
So we acted. I led a bipartisan effort to introduce the Cooperative and Small Employer Charity Pension Flexibility Act. This commonsense legislation allows cooperatives and nonprofits to continue providing pension benefits without government intrusion and improves the system ensuring a more stable future for rural cooperative employees.
Kansas communities are conducting their business and providing for their employees. We don't want the federal government getting in the way.
Sen. Pat Roberts, R-Dodge City