FOR IMMEDIATE RELEASE - June 12, 2007                                        CONTACT: Brendan LaCivita

Chamber Lauds Pension Ruling by Supreme Court

Washington, DC--Robin Conrad, executive vice president of the National Chamber Litigation Center (NCLC), commented on Monday's decision by the U.S. Supreme Court in Beck v. Pace International Union, et. al., ruling that a company that sponsors its own pension plan has no obligation to consider merging it with another pension plan as an alternative to ending the plan and paying out the plan benefits.

"Companies that voluntarily offer pension plans shouldn't be accused of breaching fiduciary obligations by deciding to terminate the plan and pay out benefit liabilities. The Supreme Court's unanimous ruling confirms an employer's right to create, modify, or terminate a voluntary pension plan without fear of violating fiduciary responsibilities."

NCLC, the public policy law firm of the U.S. Chamber of Commerce, is a membership organization that advocates fair treatment of business in the courts and before regulatory agencies. The U.S. Chamber of Commerce is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.

NCLC

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