|Current Legislative Proposals|
Congressman Earl Pomeroy (D)
North Dakota, at large
Called the "Champion of pensions on Capitol Hill" (Institutional Investor, October 1997), Congressman Earl Pomeroy has made enhancing the retirement security of American families his foremost legislative goal. Elected to his fourth term in the U.S. House of Representatives in 1998, Pomeroy has spent his tenure in Congress working to expand pension coverage, enhance pension portability, and boost personal savings.
Recently named co-chair of the House Democrats' Social Security Task Force, Pomeroy has been a leading advocate in Congress for shoring up Social Security's long-term financial future while continuing the program's guaranteed commitments to America's families. He is a founder of the bipartisan Senate/House Steering Committee on Retirement Security, as well as the co-chair of the Democratic Caucus Retirement Security Task Force.
Pomeroy has been a leader in the effort to improve retirement savings in the workplace. He has authored and introduced the Retirement Account Portability (RAP) Act to eliminate barriers that currently prevent workers from taking their retirement benefits with them when they switch jobs and to cut the red tape that has discouraged companies from providing portability options to their workers. Pomeroy is also a sponsor of the Secure Assets for Employees (SAFE) Act, which offers small businesses a simplified, streamlined pension plan design, and provides employees with secure, portable retirement benefits.
Working to increase savings for low and moderate-income families, Pomeroy has introduced the Family Retirement Savings Act of 1999. The Act would provide working families with household incomes up to $55,000 with a tax credit equal to 50 percent of their yearly contributions to individual retirement accounts (IRAs). Pomeroy has sponsored legislation to examine the scope of our nation's retirement savings crisis, and he successfully led the fight to allow spouses who work in the home to contribute a full $2,000 to their IRA.
While he has worked to increase personal savings and enact pension reforms, Pomeroy has emerged as a leader on efforts to save Social Security. Named to the House Democrats' Task Force on Social Security, Pomeroy is dedicated to preserving Social Security's guaranteed benefits to America's families. He has called on Congress to save the budget surplus until Congress and the President enact legislation protecting the long-term future of Social Security.
Pomeroy was born in Valley City, North Dakota on September 2, 1952. He earned his Bachelor of Arts degree in Political Science from the University of North Dakota in 1974, and his law degree from UND in 1979. After graduation, Pomeroy returned to his hometown and practiced law for five years. He was elected to the State Legislature in 1980 and elected State Insurance Commissioner in 1984, and reelected in 1988. He served as President of the National Association of Insurance Commissioners in 1990. In the 106th Congress, Pomeroy sits on the House Agriculture and International Relations Committees. He is married to Laurie Kirby, and they have two children, Kathryn and Scott.