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Loosen Pension-Funding Rules, Consultants Ask Congress
CFO
Dec. 11, 2008 Excerpt: With the value of defined-benefit pension plan assets plummeting, a group of benefit-actuarial consulting firms sent a letter on Monday to the Senate Finance Committee asking for an emergency temporary relaxation of Pension Protection Act of 2006 funding rules.... The letter asks for changes to the PPA to give plan sponsors adequate time 'to address the abrupt unprecedented increase to and volatility of funding requirements.' It stresses that 'we are not suggesting any form of financial assistance or arguing that full funding of pension plans is not appropriate or expected.' MORE >> |
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