Recent congressional focus on the business practices of pharmacy benefit managers (PBMs) has been intense. Six committees have held 11 hearings related to PBMs in the first 20 weeks of the 118th Congress, and legislation is advancing in both chambers.
The bipartisan infrastructure bill approved by the Senate on August 10 includes a number of budget gimmicks that help make it look fully “paid for.” One of the gimmicks is pension smoothing, which allows private companies to make smaller contributions to their defined-benefit pension plans, thereby endangering the plans’ financial viability over time.
