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  • House backs new pension-funding formula

    04/03/2004 9:09:49 AM PST · by NormsRevenge · 3 replies · 120+ views
    OC Register ^ | 4/3/04 | Mary Dalrymple - AP
    <p>WASHINGTON – The House voted Friday to relieve companies from paying an extra $80 billion into their pension plans, a step supporters said would stave off a financial crunch for businesses while protecting workers' retirements.</p> <p>House Republicans said they hoped the decisive 336-69 vote gives the bill enough momentum to pass the Senate next week. Companies want Congress to finish before April 15, when the next quarterly pension payments are due.</p>