NEWS RELEASE

February 1, 2006
PR-06/8
For additional information:
Deanna Johnson, APR or Jason Hammersla
202-289-6700


Council urges President Bush to name Greenspan to chair Social Security, Medicare commission

Expresses hope for success of bipartisan panel

WASHINGTON, D.C. — "America must acknowledge that reform of Social Security and Medicare is absolutely necessary, and only bipartisan solutions can be enacted and succeed," said American Benefits Council President James A. Klein today.

"A special commission to study these programs, as proposed by President Bush in last night's State of the Union address, is likely to be viewed by some as a tactic for delaying meaningful reforms. Such commissions often are," Klein said, "but it's clear that we are never going to resolve the challenges of an aging society unless we move forward on a bipartisan basis. Therefore, this commission holds the most promise for getting this done."

"As a first step, we would like to stress the importance of a commission chair who is well-informed and commands respect from both sides of the aisle. Former Federal Reserve Chairman Alan Greenspan would be a superb choice," Klein said.

Greenspan is intimately familiar with nation's economy and chaired the historic 1983 commission that saved Social Security from the brink of bankruptcy. He has the talents and the stature to make this critical effort succeed. "He's tan, rested and ready and as of today, he's got extra time on his hands. He's the logical choice," Klein said.

"This commission will be in the unique position to tangibly improve the financial security of future generations of Americans," Klein said. "With strong leadership and true bipartisanship, this commission can succeed where others have failed."

To arrange an interview with Klein, please contact Deanna Johnson, APR, Council director, communications, at djohnson@abcstaff.org, or Jason Hammersla, Council manager, communications & publications, at jhammersla@abcstaff.org. Both can be reached by phone at (202) 289-6700.

# # #

The American Benefits Council is the national trade association for companies concerned about federal legislation and regulations affecting all aspects of the employee benefits system. The Council's members represent the entire spectrum of the private employee benefits community and either sponsor directly or administer retirement and health plans covering more than 100 million Americans.