Sunday, November 23, 2008

Action on pensions?

Earlier this month I wrote about the crisis in pension funding resulting from the intersection of the Pension Protection Act (PPA) of 2006 and the extraordinary market collapse of 2008.

I expressed a hope that, once the national elections were behind us, federal officials would consider legislation to “make it possible for companies to adequately fund their pension plans over longer periods of time” than are required by the PPA.

Last week the New York Times reported several senators have proposed such legislation. The report speculated that, if the bill was not addressed in the Congressional lame duck session, it would be considered in “a pension relief bill in January.”

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