You said, "only one prior attempt can be found in recent history."
I followed the Pension "Protection" Act pretty closely. This legislation legalized conversion of traditional pension plans to cash balance plans. There was a lobbying effort to retroactively legalize plans that had already converted, but as the following link indicates, Congress made the law prospective only.
http://www.mwe.com/index.cfm/fuseaction/media.mmlist/index.cfm>>
Nancy G. Ross was quoted in the January 22 issue of Business Insurance in an article regarding the U.S. Supreme Court's recent denial of review of a federal appeals court decision concerning the alleged discriminatory practice of cash balance pension plans. Ms. Ross commented that despite strong lobbying initiatives, Congress did not make the plans retroactive. "There was a strong lobbying effort to make the cash balance provisions retroactive and Congress didn't do it," she said.
Nancy G. Ross, Employee Benefits & Pensions, Employee Benefits Litigation, Trial
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