Financial Executives International (FEI) honored The Honorable Rob Portman (R-Ohio) with the organization's first Public Policy Excellence Award.

FEI bestowed the honor on Portman based on his accomplishments in retirement security and pension reforms, especially with the current bill called the Portman-Cardin plan.

In essence, the plan simplifies many aspects of retirement, removes regulatory road block and enables more businesses to offer pension plans. The plan also raises contribution limits, enabling retirement plan participants to set aside more of their earnings tax-free.

A six-year veteran of Congress, Portman has written or helped write nine bills, all of which passed the House and Senate and were enacted into law by President Clinton.

'Congressman Portman's Comprehensive Retirement Security and Pension Reform Act, introduced in March of last year, is the leading bill on the pension issue in Congress this year,' says FEI President and CEO Philip B. Livingston. 'The plan makes common sense changes which will help businesses offer pension plans.'