Easing of Pension Rules Sought
November 25, 2008
The Washington Post reports that the economic crisis has driven employers to seek relief from Congress in the form easing pension funding requirements. On Wednesday, November 19, four senators proposed legislation for consideration by the full Senate that, according to a New York Times report, would roll back rules requiring companies to put more money into their pension funds, just two years after President Bush signed a law meant to strengthen the pension system. Pension experts believe that if the measure is not passed, companies would have to make up for shortfalls in their plans by cutting jobs or freezing their pensions.
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- Michael I. Richardson
mr@franczek.com
312.786.6166