(WASHINGTON, October 27, 2009) -- Diana Aviv, president and CEO of Independent Sector, issued the following statement on the Preserve Benefits and Jobs Act, introduced today by Rep. Earl Pomeroy (D-ND) and Rep. Patrick J. Tiberi (R-OH).

Statement:

“We commend Representatives Pomeroy and Tiberi for listening to the concerns of defined benefit pension plan sponsors and crafting a bill designed to provide temporary relief from pension obligations arising as a result of the market losses of 2008. Unless relief is enacted soon, current law will force nonprofits that sponsor these plans to divert substantial financial resources away from vital community services to individuals and communities at a time when they are desperately needed. The legislation they introduce today will help nonprofit organizations and other sponsors of defined benefit plans maintain services and jobs in our communities while continuing to meet their financial obligations to employees.”

Click here for more information about the importance of pension funding relief.

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Independent Sector is a nonprofit, nonpartisan coalition of approximately 550 charities, foundations, and corporate giving programs, collectively representing tens of thousands of charitable groups in every state across the nation. Its mission is to advance the common good by leading, strengthening, and mobilizing the nonprofit and philanthropic community.