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House backs new pension-funding formula
OC Register ^
| 4/3/04
| Mary Dalrymple - AP
Posted on 04/03/2004 9:09:49 AM PST by NormsRevenge
Edited on 04/14/2004 10:06:56 PM PDT by Jim Robinson.
[history]
WASHINGTON
(Excerpt) Read more at 2.ocregister.com ...
TOPICS: Business/Economy; Culture/Society; Extended News; Government; Politics/Elections
KEYWORDS: backs; huse; pensionfunding; system
To: NormsRevenge
How do you protect employees pension plans and allow companies to avoid eighty billion in funds for their pensions? This is by the same government entity that eliminated the trust in the Social Security trust fund.
2
posted on
04/03/2004 10:11:39 AM PST
by
meenie
To: All
To: meenie
The main piece of the legislation is to assume the plans can earn the long term interest rate of a high grade corporate bond index, rather than the now super low long term treasury bond rate. That change is reasonable. There are also some bailout provisions for troubled plans, particularly airlines, that I don't know the details of.
4
posted on
04/03/2004 11:27:42 AM PST
by
Torie
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