madam speaker , i thank the gentleman for yielding me this time . 
madam speaker , i rise today in support of house resolution 602 , the rule for consideration of the pension protection act , h.r. 2830 . 
both the rule and the bill are excellent . 
i would especially like to commend chairman boehner and chairman thomas for their work on this very important pension bill . 
in recent years low-interest rates , the stock market decline , and the increasing number of retirees have left many defined-benefit pension plans underfunded . 
as a result , companies from many industries claim that they will soon be unable to contribute the amount they are required to contribute under law . 
in particular , the aviation and manufacturing industries have been hard hit by these and other financial difficulties , and the penalties under the current pension law are creating tremendous financial burdens for already struggling employers , and in fact encouraging them to go into bankruptcy so they can get out from under the burdens of the current pension law . 
the pension protection act provides the long-term solution that is sorely needed to shore up pension benefits for millions of americans . 
it makes the most comprehensive reforms to our nation 's traditional pension system in more than a generation . 
the bill ensures that employers fund their pension promises to workers . 
it also keeps employers and unions from making pension promises that can not be kept . 
i would note that the manager 's amendment includes compromise language that will ensure that uaw retirees ' pensions are protected , something very important in my district and , indeed , in all of michigan . 
i was surprised at the comments of the previous speaker , who has attacked the bill on that point . 
and certainly if the uaw believes it is a good bill , it can not be as bad as the speaker claimed it is . 
in fact , i believe it is a very good bill , and it is designed to address the problems that he outlined . 
the bill does not , however , ensure that airline workers ' pensions receive needed additional protection . 
the senate bill , the pension securities and transparency act of 2005 , contains airline pension provisions . 
the senate bill allows the airlines to pay their pension obligations over an extended period of time , ensuring that airlines can fund their pension obligation and helping to prevent the pension benefit guaranty corporation from becoming insolvent as a result of taking on the burden of the airline pensions . 
i understand that chairman boehner intends to support airline pension provisions in the conference committee , and i strongly support him in his efforts to include airline pension provisions in the final version of the conference report . 
i urge my colleagues to support this excellent rule and also encourage them later in the day to support the pension protection act when it is considered . 
