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2/2/2004: Full Text of Senate-Approved Pension Funding Bill (ERISA Industry Committee)
Excerpt: The Senate bill would also allow 80 percent of deficit reduction contributions in 2004 and 60 percent in 2005 for companies not subject to the contributions in 2000. Companies with plans that are less than 75 percent funded would be prohibited from increasing benefits during that time unless the increase is pursuant to a collective bargaining agreement. In addition, the legislation contains some multiemployer relief provisions.
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