Statement by the Press Secretary on H.R. 3108

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.