YOU CAN CHANGE THE RULES BUT THE CHECK BETTER CLEAR THE BANK

A lobbying group has sent the U.S. Congress a letter (signed by 300 companies: public, private, business groups) asking that the funding requirements for Defined Pensions under the Pension Protection Act of 2006 be suspend for one year. The letter states that current market conditions have deteriorated their assets and that if plan sponsors divert cash to the pensions it “will increase unemployment and slow our economic recovery”.

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