Pony Up For The Pension Fund
The Clinton Administration is drawing a bead on companies--mainly airlines and auto and steel makers--that haven't kept up with their pension plan contributions. A "retirement security" reform package due to be unveiled on Sept. 30 will require $10 billion in extra funding from these companies over the next five years, plus $1.8 billion in higher premiums for the government's pension insurance fund. The goal: to wipe out an estimated $45 billion shortfall by 2009.
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