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Don't Blame Pension Terminations on Our Bankruptcy System
American Bankruptcy Institute 
[Opinion] Aug. 5, 2008
Excerpt: Many in the media tend to blame large pension terminations on our bankruptcy system. It's not uncommon to see articles claiming that companies use the bankruptcy court to eliminate their obligation to pay benefits for the lifetime of their former employees. What you never read about is anyone recognizing that a promise of 'lifetime benefits' is good for the lifetime of the employee or the company – whichever ends first.
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