SENSE OF CONGRESS REGARDING DEFINED BENEFIT PENSION SYSTEM REFORM.

SEC. 203. SENSE OF CONGRESS REGARDING DEFINED BENEFIT PENSION SYSTEM REFORM. It is the sense of the Congress that the Congress must ensure the financial health of the defined benefit pension system by working to promptly implement— (1) a permanent replacement for the pension discount rate used for defined benefit pension plan calculations, and (2) comprehensive funding reforms for all defined benefit pension plans aimed at achieving accurate and sound pension funding to enhance retirement security for workers who rely on defined pension plan benefits, to reduce the volatility of contributions, to provide plan sponsors with predictability for plan contributions, and to ensure adequate disclosures for plan participants in the case of underfunded pension plans.