Expressing the sense of the House of Representatives that the Federal Government should not bail out State and local government employee pension plans or other plans that provide post-employment benefits to State and local government retirees.

Expresses the sense of the House of Representatives that: (1) the federal government should not bailout state and local government employee pension plans and other post-employment benefit plans; and (2) state and local governments should immediately institute reforms to their employee pension plans, including replacing defined benefit plans with defined contribution plans.